Bhubaneswar– Former Odisha Chief Minister and Leader of the Opposition, Naveen Patnaik, on Monday spotlighted the state’s remarkable industrial growth over the past decade, citing a recent report by leading credit rating agency ICRA Limited.
Taking to social media platform X, the Biju Janata Dal (BJD) president stated 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.
According to the ICRA report, the manufacturing sector played a pivotal role in driving this growth. Patnaik credited flagship initiatives like Make in Odisha and sustained efforts to foster an investor-friendly industrial climate for this achievement.
“The industry’s contribution to GSVA has reached 51% in 2024 — one of the highest in the country,” Patnaik noted. He also emphasized that Odisha registered the second-highest overall GSVA growth at constant prices, exceeding 7%, compared to the national average of 5.8%.
“The sustained industrial growth has not only transformed Odisha’s economy but also brought prosperity to its people,” said Patnaik. “This achievement would not have been possible without the support of 4.5 crore people of Odisha,” he added, expressing gratitude to the citizens for their role in the state’s progress.
Based on the ICRA data, Odisha emerged as one of the top-performing states across several economic indicators during the FY2015–FY2024 period. In terms of GSVA composition in FY2024, Madhya Pradesh recorded the highest share from agriculture at 33%, Karnataka led in services with 66%, while Gujarat and Odisha jointly topped the industrial share at 51%.
The statement comes in the wake of a surprising electoral outcome that saw Patnaik’s BJD lose power after a 24-year tenure in the recently concluded 2024 Assembly elections. (Source: IANS)
