Bhubaneswar, February 17: Odisha, which has more than 55 operational steel plants, holds the first position in the production of steel and stainless steel in the country, Governor Hari Babu Kambhampati here today.
Addressing the Budget Session of Odisha Assembly, Kambhampati said that the State has 55 operational steel plants with a total installed capacity of around 45.62 Million Tonnes Per Annum (MTPA). This accounted for nearly 23 percent of the country’s total installed steel capacity.
With rising per-capita steel consumption, Odisha is positioning itself to contribute 100 million tonnes of steel towards the national target of 300 million tonnes by 2030, he said. “With the efforts of my Government, the State continues to occupy a pre-eminent position in the national mining and steel landscape. The State is endowed with nearly one-third of India’s total iron ore reserves and contributed over 61% of the country’s total iron ore production in FY 2024-25,” he stated.
Progressive Minor Mineral Revenue Growth
The Governor said the State Government is undertaking significant reforms for sustainable management of minor minerals (Sairat sources). Revenue from minor minerals has risen from Rs 1,195 crore in 2022-23 to Rs 1,776 crore in 2024-25, reflecting a 19% year-on-year increase and over 48% growth in two years.
Industrial Growth:
The State Government has decisively demonstrated Odisha’s industrialisation capability in 2025, grounding and inaugurating 85 industrial projects with investment of over 32 lakh crore, creating employment for more than 1.65 lakh people. During the year, through focused engagements from Utkarsh Odisha – Make in Odisha Conclave in January to the recently concluded Hyderabad roadshow, Odisha has attracted cumulative investment intents exceeding Rs 7.1 lakh crore.
During the period, the Government has approved 343 large industrial projects with a combined investment potential of over 37.1 lakh crore and an employment potential of more than 4.65 lakh jobs, clearly establishing the State’s capacity to translate investment interest into manufacturing, infrastructure and real employment on the ground.
The State has also significantly expanded Odisha’s industrial footprint across high-growth sectors such as pharmaceuticals and medical devices, advanced manufacturing, renewable energy equipment, electronics and Electronics System Design and Manufacturing (ESDM), textiles and technical textiles, IT and data centres, and aerospace and defence. To accelerate execution, District Collectors have been empowered to drive project implementation, supported by structured facilitation and a dedicated grievance redressal mechanism for investors and communities, the Governor said.
The Public Sector Undertakings (PSUs), through their activities, assist the Government in achieving its desired socio-economic objectives and play a key role in steering the State economy in the desired direction. At present, 24 PSUs are making profit, and 9 PSUs have paid a dividend amounting to Rs 8,385 crore during FY 2024-25.
Vocal for Local
Kambhampati said, “Inspired by the call of Vocal for Local and Atmanirbhar Bharat, my Government is turning Odisha into a competitive manufacturing and enterprise hub.” With the ‘Enterprise Odisha’ conclave at Rourkela in January 2026, the State Government is firmly advancing from intent to impact – strengthening manufacturing, MSMEs and Startups. The State Government has achieved large-scale formalisation of enterprises, with 12.72 lakh MSMEs registered under the UDYAM portal till December 2025, which includes 12.61 lakh micro, 9,959 small and 601 medium enterprises.
UDYAM registration has enabled MSMEs to avail institutional finance, Government incentives, and policy support, strengthening their integration into the formal economy and improving data-driven governance for MSME development. To support manufacturing MSMEs by reducing their interest burden on working capital loans, the Chief Minister’s Scheme for Reimbursement of Interest to MSMEs (CM-SRIM) has been extended from the financial year 2024-25 to FY 2027-28. By November 2025, a total of 3,446 applicants have been disbursed Rs 35.18 crore as interest reimbursement, he informed.
Initiatives to Support Industries
The State Government is implementing the Industrial Policy Resolution (IPR), Odisha MSME Development Policy, and Odisha Food Processing Policy to promote MSME growth and local entrepreneurship.
During FY 2025-26, up to December 2025, 159 MSMEs received assistance of Rs 11.43 crore under IPR, 74 MSMEs received Rs 15.51 crore under the MSME Development Policy, and Rs 7.60 crore was sanctioned and released to 21 food processing enterprises under the Odisha Food Processing Policy.
Additionally, investment promotion for projects below Rs 50 crore is being facilitated through District Level Single Window Clearance Authorities (DLSWCA) to support decentralised industrial growth. During FY 2025-26 till December 2025, 238 proposals have been approved by DLSWCA across the State with proposed investment of Rs 1,649.51 crore.
Similarly, the Directorate of Export Promotion and Marketing (DEP&M) is supporting MSMEs through marketing assistance, product testing, rate contracts, export facilitation, and financial incentives under the Odisha Export Policy 2022. During the current financial year, Rs 54.70 lakh has been released to 254 MSME exporters through the Export Incentives Reimbursement Portal (EIRP). Export promotion activities are supported through workshops, RAMP implementation, and exporter interactions, with the State’s export turnover projected at Rs 50,913 crore in FY 2025-26.
Plan for Semiconductor Manufacturing Hub
The State Government with the support of the Centre is taking measures to make Odisha as semiconductor manufacturing hub of the country. The Centre has approved two state-of-the-art semiconductor manufacturing units in Odisha under the India Semiconductor Mission, involving an investment of over Rs 2,066 crore. This marks a landmark step towards positioning Odisha as a semiconductor and electronics hub, generating high-skilled employment, promoting ancillary industries and advancing the vision of Atmanirbhar Bharat, the Governor said in his Speech.
“Infrastructure is not only concrete and steel – it is the silent enabler of every dream of a Samruddha Odisha 2036,” he stated.
