Bhubaneswar: Odisha has recorded the highest industrial growth in the country over the past decade, marking a significant milestone in the state’s economic development.
This information was shred by Leader of Opposition (LoP) and former chief minister Naveen Patnaik in a post on X while citing the reports of the ICRA Limited (Investment Information and Credit Rating Agency).
The ICRA report showed that Odisha’s industrial Gross State Value Added (GSVA) grew at a compound annual growth rate (CAGR) of 10% between FY2015 and FY2024 — the highest among all Indian states.
Naveen said that with constant effort to attract investment through Make In Odisha and meticulous nurturing of industrial environment, the industry share in GSVA has reached 51% in 2024 which is among highest in the country.
This impressive performance was primarily driven by a surge in manufacturing activity and a proactive approach to industrial policy.
“The growth was mainly fueled by the manufacturing sector. With constant efforts to attract investment through ‘Make in Odisha’ and meticulous nurturing of the industrial environment, the industry’s share in GSVA has reached 51% in 2024 — one of the highest in the country,” Naveen said in his post.
Odisha also recorded the second-highest GSVA growth at constant prices — over 7% — compared to the national average of 5.8%. Naveen said this achievement reflects the transformative impact of industrialisation on the state’s economy and its people.
“The sustained industrial growth not only transformed Odisha’s economy but also brought prosperity to its people. This would not have been possible without the support of Odisha’s 4.5 crore citizens. I thank the people of Odisha for being partners in this transformative journey,” his post read.