The economy of Orissa is a balanced mix of agricultural and industrial sectors. The Orissa economy has been boosted with the presence of modern infrastructural facilities. The transportation system has been upgraded with well maintained road networks, an international airport at Bhubaneswar, major ports and rail network connecting all major cities of the country.
A list of the major contributors to the Odisha economy and leading industries of the state are:
- Forest based husbandry
- Iron and steel
- Information and technology
Orissa Agriculture is the major contributor to the state's economy. Agriculture is the chief occupation in Orissa. About 76% of the total working population is engaged with agriculture and agriculture related industries. The total cropped area in Orissa is 87,46,000 Hectares and out of that 18,79,000 Hectares are under irrigation.
- Oil seeds
The Orissa Fisheries have emerged as one of the important components of the economy of the state. With a coastline of 480 Kilometers of length, vast swamp areas, numerous rivers and fresh water lakes, Orissa has a huge scope for brackish water, inland and marine fisheries.
Fresh water fisheries in Orissa include 2,56,000 Hectares of reservoirs, lakes and swamps, 1,16,000 Hectares of ponds and tanks and 1,55,000 Hectares of canals and 1,80,000 Hectares of rivers.
Brackish or salt water fisheries in Orissa include 8,100 of backwater regions, cultivated brinies adding up to 32,587 Hectares and 2,98,000 Hectares of estuaries and 79,000 Hectares of Lagoons.
The Orissa Industry is going places with excellent industrial infrastructure and presence of top national and international companies. The state has witnessed an industrial upsurge due to the favorable industrial atmosphere in the state. The state government of Orissa has invited major industrial houses of the country and abroad to invest in the state. It has achieved a considerable amount of success and several prime companies have set up their plants in the state.
- Medium industries
- Cottage industries
- Large scale heavy industries
- Large scale industries
The large scale medium and large scale heavy industries include the:
- Cement industry
- Ceramic Glass plants
- Refractory units
- Ferro Manganese plants
- Aluminum industry
- Fertilizer plants
- Agro based industries
- Chemical industries
- Tyre factories
- Aeronautical industry
Orissa Steel is an emerging sector that will supplement the industrial sphere of Orissa. The developing industries producing steel will dominate the economy of the state. The presence of raw materials in abundance in the region has resulted in attracting the big investors to the region.
In the year 2004, the government of Orissa had received 40 proposals for establishing steel plants in Orissa. The large scale steel enterprises have opted to invest in the state of Orissa. The reasons behind the sudden interest of the steel plants like TATA Steel and Ruia's Essar Steel are the large iron ore deposits in the districts of Keojhar. The state mines 58 percent of iron ore which is an important raw material for making steel.
Orissa has deposits of the other raw material required for the production of steel in substantial quantities. The state also has a ready market for the steel products. Labor and electricity in the state are cheap which account for a low cost of production. The infrastructure of the state is also well developed that facilitates the industrial sector. These factors have lured the reputed steel companies of the country to the state.
Last Updated on : 30th March 2013