Odisha’s exports have the potential to grow to USD 50 billion by financial year 2029-30, according to a study by the Export-Import Bank of India, released by Deputy Managing Director Tarun Sharma in Bhubaneswar as part of a broader push to strengthen the state’s export ecosystem.
What is Odisha’s current export performance?
Odisha’s merchandise exports stood at USD 10.8 billion in FY 2025-26, accounting for 2.4 percent of India’s total exports for the year, with year-over-year growth of 7 percent over FY 2024-25. Between 2016-17 and 2025-26, the state’s exports registered a compound annual growth rate of 6.6 percent.
What does the base case scenario project for Odisha’s exports?
Under a base case scenario, assuming exports grow at the same CAGR recorded between 2019-20 and 2025-26 over the next four years, Odisha’s exports are estimated to reach USD 14.9 billion by 2029-30, a scenario the study contrasts with the higher USD 50 billion potential achievable through accelerated reforms and sector-specific interventions.
How does this align with Odisha’s long-term export vision?
The projections tie into Odisha Vision 2047, which identifies exports as a key driver of the state’s economic transformation and targets a 7.5 percent share of India’s total exports, including contributions from MSMEs, by 2047.
What role is Exim Bank playing to support this growth?
The study’s release coincided with Exim Bank announcing plans to establish a full-fledged regional office in Bhubaneswar, aimed at deepening engagement with the state’s exporters, MSMEs and industry bodies. Sharma highlighted the Bank’s support for projects across steel, renewable energy and wagon manufacturing sectors, along with its Trade Assistance Programme, which has facilitated trade finance transactions with countries including Bhutan, Nepal, Sri Lanka, Ethiopia and the United Kingdom. The announcement was made at a seminar titled “Enhancing Exports from Odisha: Opportunities & Financing Solutions,” jointly organised by Exim Bank, the Federation of Indian Export Organisations and the Government of Odisha.
What does this mean for Odisha’s trade and industrial ecosystem?
The findings position Odisha as a state with significant untapped export potential, with Exim Bank’s expanded regional presence expected to bridge financing gaps for exporters and MSMEs across both traditional and emerging sectors, supporting the state’s broader ambitions to become a larger contributor to India’s international trade.
