Bhubaneswar: The Union Budget has received a strong positive response from industry leaders in Odisha. An eminent industrialist, Shri Pankaj Lochan Mohanty, President of the ASSOCHAM Odisha Development Council, hailing the fiscal roadmap as a transformative step toward a Developed Odisha. The Union Budget’s focus on reform-led growth, fiscal prudence, and increased capital expenditure is expected to significantly bolster the manufacturing, infrastructure, and MSME sectors.
Shri Mohanty said the key highlight for the state is the ambitious plan to develop 20 new inland waterways over the next five years under the National Waterway project, with a major focus starting in Odisha. The National Waterway-5 project aims to connect the mineral-rich regions of Talcher, Angul, and Kalinganagar directly to the Paradip Port. This inland water connectivity is projected to bring a revolutionary change to Odisha’s industrial landscape by reducing logistics costs and streamlining the transport of raw materials and finished goods.
ASSOCHAM Odisha Chief lauded the announcement of a dedicated Rare Earth Corridor in Odisha is another strategic move designed to boost production and industrial efficiency. By creating a specialized ecosystem for mineral processing and export, the state is poised to see a surge in industrial output and the creation of large-scale employment opportunities for the local youth.
Beyond heavy industry, the budget emphasizes sustainable development, said Shri Mohanty. Plans to improve and protect turtle nesting sites along the Odisha coastline are seen as a vital step for environmental conservation. This initiative is expected to provide a major fillip to eco-tourism, attracting international visitors and supporting local livelihoods while preserving the state’s unique biodiversity, said Shri Mohanty, who all along supports green initiatives in industrial sector.
ASSOCHAM Chief said that the establishment of a National Institute of Design in Eastern India is set to provide the necessary design and innovation impetus to the state’s growth. Furthermore, the budget’s focus on Tier-2 and Tier-3 cities opens doors for funding and infrastructure upgrades across seven major cities in Odisha, ensuring that urbanization is balanced and inclusive.
In the agricultural sector, the provision of special assistance for coconut and cashew cultivation in coastal areas has been welcomed as a major relief for the farming community. These measures, combined with the focus on MSME investments, are expected to create a robust and diversified economy.
ASSOCHAM Odisha Chief, Shri Mohanty noted that the budget’s emphasis on infrastructure and a stable fiscal environment provides the necessary foundation for Odisha to emerge as a leading industrial hub in the country.