Indian Industry Plus A Pratisrutiplus Suppliment
Odisha is now a favoured destination for investors for setting up of various sunrise industries. A sunrise industry is characterised by significant future potential, higher investment level, newer technology, rapid innovation and high growth rate.
In view of transforming our nation to “Viksit Bharat by 2047”, our state Odisha also has envisioned to make the state “Samruddha state by 2036”. The state has huge natural resources and a well-built ecosystem for inviting investment from reputed industrialists. The state has excellent infrastructure with ports and railway network to support the ambitious projection defined by the Government of Odisha.
Odisha is now a favoured destination for investors for setting up of various sunrise industries. A sunrise industry is characterised by significant future potential, higher investment level, newer technology, rapid innovation and high growth rate. Initially, it starts with infant stage and can become a dominant sector in the economy in future. Odisha state is a premier destination for sunrise industries and has a target to secure investment to the tune of Rs 1 lakh crore during 2026-36 thereby creating a direct and indirect job potential. Existing industrial eco-system with around 106 industrial estates, 1.25 lakh industry ready land, Strong mineral base, 8000 kms of highway network and a long coastline for 480 kilometres is expected to facilitate diversification towards sunrise industries. Key sunrise sectors include manufacturing of green energy (hydrogen, solar power), food processing, Pharmaceuticals and IT & advance electronics products and manufacturing of downstream product in steel and aluminium sector.
In future Odisha will be a hub for green hydrogen, bioenergy and solar component with a target of manufacturing 500 GW of non-fossil energy by 2030. The state has an ambitious plan to explore its renewable energy potential by producing green hydrogen, ammonia and solar power. Adani Hydro Energy Twelve Limited and Greenko ORO1 IREP Private Limited are investing heavily in hydro projects proposed in Nayagarh and Kalahandi districts. The state will leverage both of its ports at Gopalpur and Paradip for material handling and distribution. The programme will adhere to “Odisha Renewable Energy Policy 2022” and the “Industrial Policy Resolution (IPR) 2022”.
Biotechnology & Pharmaceuticals is another promising sector where the state has an ambitious future plan with Rs 25,000 crore investment plan for establishing hub for this sector which will create around 1 lakh new jobs by 2030. This will boost the research and development as well as the manufacturing of pharma products. The government has devised “Odisha Biotechnology Policy 2024” to boost the sector. The state will develop new Pharma Parks in Nayagarh and Khorda district.
With a long coastline of 485 km and rich agricultural background, the state encourages food processing and marine product processing to a greater extent. The investment boost in this sector will promote processing of seafood, cashew and exotic fruits through a series of cold chain facility focusing on value addition, infrastructure and export. The state has framed “Odisha Food Processing Policy 2022” for setting up, modernisation and expansion of processing units. The state has a detailed plan for developing micro-clusters for each product-class and linking them to global markets. The sector is being monitored by designated nodal agency named as “The Agricultural Promotion and Investment Corporation of Odisha Limited (APICOL) adhering to “Odisha Export Policy 2022”.
Odisha state is emerging as a premier hub for IT, Data Centres and Electronic System Design & Manufacturing (ESDM) driven by “Odisha Data Centre Policy 2022”, “Electronic policy 2021” and “Draft IT policy 2025”. This will encourage developing major Data Centre parks and will foster a skilled talent pool in Artificial Intelligence, Internet of Things and cloud computing. The state Government is developing a 200 acres semiconductor park with required facilities. The policy framework provides capital subsidy and exemptions on land and other concession on facilities apart from ensuring 24/7 electricity. The state provides robust digital infrastructure, high speed connectivity, 296 acres of land in IT SEZ number of IT towers and incubation centres. It will also facilitate incubation support, equity funding and venture capital funding with single window clearance via Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL), the designated nodal agency.
Another focus area will be on downstream products and alloys from steel and aluminium. Odisha produces 54% aluminium and 20% steel in the country. This creates a potential for manufacturing value added downstream products from steel and aluminium. Government of Odisha has established aluminium downstream products park at Angul and Jharsuguda. Similarly, the state has established steel park at Kalinga Nagar manufacturing zone.
These initiatives followed by positive response from investors signify a strategic shift towards technology-driven
