Referring to a report published by the leading credit rating agency of India, ICRA Limited, former Chief Minister and Leader of Opposition in Odisha Assembly, Naveen Patnaik, on Monday, claimed Odisha recorded significant industrial growth during the 2015 to 2024 financial years.&nbsp;
Taking to social media platform X, Patnaik on Monday 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 a report by ICRA Limited.&nbsp;
The Biju Janata Dal (BJD) president further added that the report has credited the manufacturing sector as the key driver behind this impressive growth.&nbsp;
He also highlighted the success of initiatives like &lsquo;Make in Odisha&rsquo; and consistent efforts to create an investor-friendly industrial environment.&nbsp;
Patnaik stated that the industry&rsquo;s contribution to GSVA has reached 51 % in 2024, one of the highest shares in the country.&nbsp;
Additionally, Odisha recorded the second-highest overall GSVA growth at constant prices, exceeding 7 %, compared to the national average of 5.8 %.&nbsp;
&ldquo;The sustained industrial growth has not only transformed Odisha&rsquo;s economy but also brought prosperity to its people. This achievement would not have been possible without the support of 4.5 crore people of Odisha,&rdquo; he said, expressing gratitude to the citizens for being partners in the state's transformative journey.&nbsp;
The BJD supremo, based on the ICRA report, stated that Odisha is among the top performers in different economic categories in the country during the FY 2015 to FY 2024.&nbsp;
As per the ICRA report, the highest share of agriculture and services in the GSVA in FY2024 was 33 % in the case of Madhya Pradesh and 66 % for Karnataka, respectively.&nbsp;
The share of industry in the GSVA was the largest at 51 % each for Gujarat and Odisha in FY2024.&nbsp;
Naveen Patnaik-led BJD government faced an unexpected defeat in the 2024 Assembly elections, ending the party&rsquo;s rule of 24 years in Odisha.
&mdash;IANS

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Odisha records highest industrial GSVA growth at 10% CAGR from FY2015 to FY2024: ICRA report

May 13, 2025 | 09:31 IST