Naveen Patnaik highlights industrial growth of Odisha between FY 2015 to FY 2024

IANS May 13, 2025 442 views

Naveen Patnaik has shared compelling data about Odisha's remarkable economic progress over the past decade. The state has achieved an impressive 10% Compound Annual Growth Rate in industrial Gross State Value Added between 2015 and 2024. According to an ICRA Limited report, Odisha's manufacturing sector has been the primary driver of this economic transformation. Despite recently losing the Assembly elections after 24 years in power, Patnaik continues to highlight the state's economic achievements.

"The sustained industrial growth has not only transformed Odisha's economy but also brought prosperity to its people." - Naveen Patnaik
Naveen Patnaik highlights industrial growth of Odisha between FY 2015 to FY 2024
Bhubaneswar, May 12: Referring to a report published by the leading credit rating agency of India, ICRA Limited, former Chief Minister and Leader of Opposition in Odisha Assembly, Naveen Patnaik, on Monday, claimed Odisha recorded significant industrial growth during the 2015 to 2024 financial years.

Key Points

1

Odisha achieves 10% industrial GSVA growth, highest among Indian states

2

Manufacturing sector drives economic transformation

3

Industry contribution reaches 51% in 2024

4

State exceeds national economic growth average

Taking to social media platform X, Patnaik on Monday stated that Odisha's industrial Gross State Value Added (GSVA) grew at a Compound Annual Growth Rate (CAGR) of 10 per cent between FY2015 and FY2024, the highest among all Indian states, according to a report by ICRA Limited. The Biju Janata Dal (BJD) president further added that the report has credited the manufacturing sector as the key driver behind this impressive growth. He also highlighted the success of initiatives like ‘Make in Odisha’ and consistent efforts to create an investor-friendly industrial environment.

Patnaik stated that the industry’s contribution to GSVA has reached 51 per cent in 2024, one of the highest shares in the country. Additionally, Odisha recorded the second-highest overall GSVA growth at constant prices, exceeding 7 per cent, compared to the national average of 5.8 per cent. “The sustained industrial growth has not only transformed Odisha’s economy but also brought prosperity to its people. This achievement would not have been possible without the support of 4.5 crore people of Odisha,” he said, expressing gratitude to the citizens for being partners in the state's transformative journey.

The BJD supremo, based on the ICRA report, stated that Odisha is among the top performers in different economic categories in the country during the FY 2015 to FY 2024. As per the ICRA report, the highest share of agriculture and services in the GSVA in FY2024 was 33 per cent in the case of Madhya Pradesh and 66 per cent for Karnataka, respectively. The share of industry in the GSVA was the largest at 51 per cent each for Gujarat and Odisha in FY2024.

Naveen Patnaik-led BJD government faced an unexpected defeat in the 2024 Assembly elections, ending the party’s rule of 24 years in Odisha.

Reader Comments

Here are 6 diverse Indian perspective comments for the article:
P
Prakash M.
Odisha's growth story is truly inspiring! 10% industrial CAGR is no small feat. Shows what stable governance and good policies can achieve. Other states should learn from this model. Hope the new government continues this momentum 🤞
S
Sunita R.
While the numbers look impressive, I wonder how much of this growth actually reached common people. Industrial growth is good but we need to see more jobs created for local youth. The election results suggest people wanted change despite these figures.
A
Arjun K.
As someone from Odisha, I've seen the transformation firsthand. Bhubaneswar today is completely different from 10 years ago! New industries, better roads, more opportunities. But yes, rural areas still need more attention. #ProudOdisha
R
Rajesh P.
Interesting that despite such good economic performance, BJD lost elections. Maybe people care about more than just GDP numbers? Development must be balanced with other factors like corruption control and social welfare.
M
Meena T.
The 'Make in Odisha' initiative deserves special praise! 🎉 Our state has become a manufacturing hub while preserving its cultural heritage. Hope the new government doesn't undo all this good work. Industrial growth and Odia asmita (pride) can go together!
D
Deepak N.
Being from Gujarat, I'm impressed Odisha matched our industrial GSVA share of 51%! Healthy competition between states is good for India's growth. Maybe we can learn some things from Odisha's policies too. #CooperativeFederalism

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Your email won't be published


Disclaimer: Comments here reflect the author's views alone. Insulting or using offensive language against individuals, communities, religion, or the nation is illegal.

Tags:
Naveen Patnaik Odisha Economy Industrial Growth ICRA Report Biju Janata Dal Economic Development