Bhubaneswar: A study conducted by the Export Import (Exim) Bank of India has said that Odisha’s exports have the potential to reach USD 50 billion by financial year 2029-30.
The report was released by the bank’s deputy managing director Tarun Sharma in Bhubaneswar on Friday evening.
Odisha’s merchandise exports stood at USD 10.8 billion in 2025-26, constituting 2.4 per cent of India’s exports for the year. Exports witnessed a year-over-year growth of 7 per cent over FY 2024-25. During 2016-17 to 2025-26, Odisha’s exports registered a compound annual growth rate (CAGR) of 6.6 per cent, the report said, according to PTI.
Three scenarios have been discussed in the report
Under the base case scenario, assuming Odisha’s exports grow at the same CAGR during the next four years as during 2019-20 to 2025-26, Odisha’s exports are estimated to reach USD 14.9 billion by 2029-30.
In the optimistic scenario, if Odisha’s exports grow at the same envisaged CAGR during 2025-26 to 2029-30 as India’s (22.7 per cent), Odisha’s exports may reach USD 24.4 billion by FY 2029-30.
In the ambitious scenario, if India achieves USD 1 trillion export target by 2029-30 and Odisha’s share in India’s exports more than doubles to 5 per cent from the current share of 2.4 per cent, Odisha’s exports may reach USD 50 billion by 2029-30, the study said.
The composition of Odisha’s export basket has remained largely unchanged over the past decade, with exports heavily concentrated in metal and mineral products.
Odisha’s top exported category was aluminium and its articles In 2025-26, accounting for 38.2 per cent of total exports, followed by iron and steel, inorganic chemicals; ores, slag and ash; and mineral fuels and oils, it said.
While China was the top export destination during 2025-26, with exports at USD 1,973.8 million (18.3 per cent of Odisha’s exports), other addresses were Vietnam, South Korea, the US and UK.
“Odisha is uniquely positioned to play a significant role in India’s export journey and contribute substantially towards India’s goal of achieving USD 2 trillion in exports by 2030,” Sharma said.
Odisha Vision 2047 also recognises exports as a key driver of the state’s economic transformation and targets a 7.5 per cent share in India’s exports, including contributions from MSMEs, by 2047, he said.
Exim Bank has launched several new initiatives with an aim to bridge the financing gaps for exports through innovative financing and risk mitigation programmes, particularly for MSMEs, over the years, he said.
In Odisha, Exim Bank has been actively engaging with exporters and MSMEs across both traditional and emerging sectors, Sharma added.