Odisha, currently a United States dollar (US$) 120 bn economy, is targeting US$500 bn by 2036 and US$1.5 tn by 2047, with micro, small and medium enterprises expected to play a central role in job creation and entrepreneurship expansion, senior state officials said at the Outlook MSME Growth Conclave in Bhubaneswar. Chief Secretary Anu Garg outlined the state ambition and linked the targets to a roadmap for strengthening the MSME ecosystem. The conclave gathered senior government officials, banking executives, industry representatives and other stakeholders to deliberate policy measures.

The administration noted that the state currently accounts for two point eight nine per cent of India’s GDP and aims to raise this share to four per cent by 2036 and potentially five per cent by 2047. Discussions at the conclave addressed enterprise development, women-led entrepreneurship and the regulatory and infrastructure support required to broaden participation in growth. Participants examined practical measures to move micro and small firms from subsistence activity to scalable enterprise.

Access to finance emerged as a central constraint for MSMEs and banking representatives set out funding gaps. The head of MSME banking at Bank of Baroda estimated that Odisha’s MSMEs require an estimated Rs 4,800 bn to Rs 5,500 bn in funding support while current credit flows amount to about Rs 1,200 bn. Panel sessions explored credit products, co-lending arrangements and supply chain finance as mechanisms to bridge the shortfall.

The conclave emphasised that appropriately structured credit will be essential if the state is to realise its growth targets and enable firms to scale sustainably. Deliberations also highlighted the need for targeted support for women entrepreneurs, capacity building and simplified access to government schemes. Attendees advocated coordinated action across departments, banks and industry to translate the roadmap into measurable outcomes.