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Odisha

INTRODUCTION

Odisha is located in the eastern region of India. The state shares its borders with West Bengal on the north-east, Jharkhand on the north, Andhra Pradesh on the south, Chhattisgarh on the west, and the Bay of Bengal on the east.

The state’s economy witnessed high growth rates between 2016-17 and 2020-21, with GSDP of the state growing at a CAGR of 6.72%. Cumulative FDI inflows in the state amounted to US$ 32.80 million between October 2019 and March 2021.

Odisha has emerged as the key state with regard to the mineral and metal-based industries. In 2019-20^, Odisha contributed to the largest share (35.3%) of mineral production (by value*) in India. Value* of minerals produced in the state reached Rs. 70.54 billion (US$ 951 million) in 2020-21^.

It is the first state in India to have undertaken reform and restructuring initiatives in the power sector. As of April 2021, Odisha accounted for a total installed power generation capacity of 8,594.47 megawatts (MW).

Odisha has a well-developed social, physical, and industrial infrastructure, and the state government has undertaken several infrastructural projects to further promote overall development. The state's infrastructure includes well-connected road and rail networks, airports, ports, power, and telecom.

Economic Snapshot: Andhra Pradesh
Per capita Income of Andhra Pradesh
KEY SECTORS
  • Total merchandise exports from Odisha stood at ~US$ 6.66 billion in FY20 and US$ 10.22 billion in FY21.
  • Odisha’s industries are based mainly on the natural resources available in the state. It carries more than 35% of country’s natural resources. The state has significant reserves of iron ore, bauxite, nickel, coal, etc. Hence, it is an attractive destination for mineral-based industries. In March 2021, ArcelorMittal-Nippon Steel India and the Odisha government signed a MoU to establish a 12 MT integrated steel plant in the state, with an investment worth Rs. 50,000 crore (US$ 6.88 billion).
  • In Union Budget 2021, Odisha allocated 6.4% of its total expenditure on health, (higher than the average allocation for health by other states (5.5%), 7.5% on rural development (higher than the average allocation for rural development by other states (6.1%) and 7.8% on roads and bridges (higher than the average allocation by states (4.3%).
  • In Maritime India Summit 2021, the government announced to establish Odisha as the hub of maritime trade.
  • About 153.07 lakh domestic tourists and 1.15 lakh foreign tourists visited Odisha in 2019-20.

*- Excluding fuel minerals, atomic minerals and minor minerals, ^- Until September 2020