The Indian economy is poised to surpass the $5 trillion mark, positioning itself as the third-largest economy globally, according to Prime Minister Narendra Modi. He made these remarks during the opening session of the Utkarsh Odisha – Make in Odisha Conclave 2025, which commenced on Wednesday.
Modi emphasized that the future growth of the economy will hinge on two main pillars: an innovative service sector and a strong emphasis on research and development (R&D), along with skill-building and producing high-quality products in India.
The Prime Minister expressed that merely exporting raw materials from the country is insufficient, stating, “We are transforming the entire ecosystem, as the trend of India being a raw materials exporter is no longer acceptable.” He noted that while the global focus is increasingly on Artificial Intelligence (AI), for India, this signifies an “Aspirational India.”
Odisha, with its approximately 500 km coastline, 33% forest cover, and rich natural resources, holds immense potential. Modi highlighted Odisha’s historical significance as a major trade gateway of Ancient India to Southeast Asia, mentioning the recent memorandums of understanding (MoUs) signed by the Odisha Government with Singapore as part of efforts to restore its historical prominence.
The Prime Minister pointed out various sectors—such as minerals, port-led development, green energy, green hydrogen, petrochemicals, seafood, and railways—that present substantial investment opportunities. He remarked, “Now is the perfect time to invest in Odisha.”
Odisha Chief Minister Mohan Charan Majhi added that the state serves as a growth engine for eastern India’s economy, boasting a wealth of diverse natural resources, developed logistics for better connectivity, and a peaceful law and order environment. He noted that the state government is establishing plug-and-play industrial parks and Foreign Direct Investment (FDI) clusters, stating, “Every region of Odisha presents unique opportunities. I invite all investors to consider investing here.”
