Bhubaneswar: Utkal Chamber Of Commerce & Industry Limited (UCCIL) President Dr.Prabodh Mohanty said Odisha’s Vision 2036 & 2047 document lays out an ambitious roadmap for the state’s economic transformation, with the Micro, Small, and Medium Enterprises (MSME) sectors identified as crucial pillar. Prime Minister Shri Narendra Modi has released Odisha Vision 2036 & 2047 on 20 June here.
Dr.Mohanty while lauding Vision Blueprint for 2047 said that the state aims to evolve from a largely agrarian economy into a leading industrial hub, significantly contributing to India’s “Viksit Bharat” (Developed India) goal.
UCCIL Chief Dr.Mohanty said that Odisha has a substantial MSME base with over One million Udyam-registered MSMEs as of May 2025. This sector is crucial for economic diversification and job creation, especially in non-mineral-based industries.
Despite its large number, only 40% of India’s MSMEs (a situation echoed in Odisha) access formal credit, indicating a significant financing gap that hinders their growth and stability within local supply chains.
The document emphasizes the need to build a robust MSME base that not only supports large industries but also contributes significantly to exports, pointed out UCCIL President.
The goal is to integrate MSMEs into these value chains, encouraging them to produce niche, high-quality products and adapt to market changes. This includes promoting handicrafts, handlooms, and coir-based products, leveraging Odisha’s rich cultural heritage and artisan communities.
The document acknowledges several challenges that need to be addressed:
- Fragmented Ecosystem: The current manufacturing landscape is fragmented, necessitating integrated industrial parks and strong MSME linkages.
- Infrastructure Bottlenecks: Poor inner roads, long distances between industrial hubs, and inadequate port facilities limit export potential. Solutions include better road infrastructure, upgraded port facilities, and multi-modal logistics.
- Skilling Gaps: Limited exposure to business culture and inadequate skilling, especially in rural areas, affects workforce readiness. Targeted skill development programs and industry-academia collaborations are key.
- Access to Formal Credit for MSMEs: Only a small percentage of MSMEs access formal credit, impacting their growth. The state plans to expand supply chain financing, offer zero-collateral loans, interest subsidies, and credit guarantees.
- Regional Imbalance: Industrial growth is concentrated, with many districts underdeveloped. The strategy aims for a more balanced distribution of industrial development.
- Environmental and Social Considerations: Coastal vulnerability to natural disasters and the need for sustainable practices are recognized. The state plans to define standards for disaster-resilient infrastructure and promote green manufacturing.
- Global Competition: Odisha’s emerging industries face fierce competition from countries with lower production costs. The strategy involves improving efficiency, fostering innovation, and leveraging port access for export-led growth.
The Industrial and MSME growth strategy is deeply intertwined with other sectors outlined in the Vision document, pointed out UCCIL President Dr.Mohanty and said that:
Agriculture and Blue Economy: The expansion of food and seafood processing industries directly relies on the growth and diversification of the agriculture and fisheries sectors. This will create value-added products for domestic consumption and export.
Logistics, Infrastructure, and Connectivity: Robust transportation networks, including ports, highways, and railways, are fundamental for efficient movement of raw materials and finished goods, supporting industrial expansion and export capabilities.
Service Sector Expansion: The growth of manufacturing will spur demand for various services like IT/ITeS, financial services, and professional services, contributing to overall economic development and job creation.
Skilled Workforce: The “Skilled in Odisha, Skilling for the World” chapter directly supports the industrial sector by ensuring a continuous supply of trained labor in required domains.
Urbanization: The transformation of cities into “Model Industrial Cities” and economic agglomerations will provide the necessary urban infrastructure, social amenities, and skilled workforce to support industrial growth.
The emphasis on sustainability, inclusivity, and regional balance suggests a holistic approach to industrial development, promising not just economic growth but also enhanced welfare and prosperity for its citizens. The success of this vision hinges on effective implementation, robust governance, and continuous adaptation to global trends.
UCCIL Chief Dr.Mohanty pointed out that Odisha’s Vision 2047 for its major industry and MSME sectors is comprehensive and forward-looking.
By strategically diversifying its manufacturing base, attracting substantial investments, developing world-class infrastructure, upskilling its workforce, and improving the ease of doing business, Odisha aims to become a leading industrial powerhouse in India, said UCCIL President Dr.Mohanty.