+
Odisha Targets US$500 bn Economy By 2036 With MSMEs
ECONOMY & POLICY

Odisha Targets US$500 bn Economy By 2036 With MSMEs

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.

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.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Emiza Expands Bhiwandi Fulfilment Capacity by 2.32 Lakh Sq Ft

Emiza, a leading third-party logistics (3PL) provider, has expanded its Mumbai operations with the launch of two new fulfilment facilities in Bhiwandi, adding a combined capacity of 2.32 lakh sq ft to its network.The new facilities, spread across 75,000 sq ft and 1,57,000 sq ft, mark Emiza’s fifth and sixth warehouses in the Mumbai region. The expansion strengthens the company’s fulfilment infrastructure in Western India amid the rapid growth of India’s digital commerce ecosystem.With increasing online consumption, wider product categories and rising customer expectations for faster deli..

Next Story
Infrastructure Urban

Ingersoll Rand Showcases Air Solutions for Semiconductor Sector

Ingersoll Rand will showcase its advanced compressed air solutions for India’s growing semiconductor ecosystem at SEMICON India 2026, scheduled from September 17–19 at Yashobhoomi, New Delhi.The company will display its portfolio of oil-free compressors, centrifugal compression technologies and advanced air treatment systems at Stall No. 1156, Hall No. 1. The solutions are designed to address the stringent air quality, reliability and efficiency requirements of semiconductor manufacturing applications.With India accelerating investments across semiconductor manufacturing, packaging, equipm..

Next Story
Infrastructure Energy

RECPDCL Transfers Musalgaon Transmission SPV to MSETCL

REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, has handed over Musalgaon Power Transmission Limited, a project-specific Special Purpose Vehicle (SPV), to Maharashtra State Electricity Transmission Company Limited (MSETCL).MSETCL emerged as the successful bidder through the Tariff-Based Competitive Bidding (TBCB) process conducted by RECPDCL, the Bid Process Coordinator, for developing Maharashtra’s intra-state transmission project on a Build, Own, Operate and Transfer (BOOT) basis.The SPV was handed over by Shri Ratnesh Kumar, General Manag..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code