The Indian economy is on track to cross the $5 trillion milestone and become the third-largest economy in the world, Prime Minister Narendra Modi said.
He was speaking at the inaugural session of Utkarsh Osdisha – Make in Odisha Conclave 2025, which began here on Wednesday.
Modi said the two pillars of growth would be an innovative service sector coupled with a focus on R&D, skilling, and India’s quality products.
Stating that only exporting raw materials from India would not be adequate, the Prime Minister said: “We are changing the entire ecosystem as this trend (of India being an exporter of raw materials) is not acceptable to Modi.”
While the entire world is now moving towards Artificial Intelligence (AI), for India, it would also mean “Aspirational India”, he added.
Growth potential
With about 500 km of coastline, 33 percent forest cover, and abundant natural resources, Odisha has great potential.
Recalling Odisha’s historical legacy as one of the gateways of Ancient India’s trade with Southeast Asia, Modi said the Government was reviving its old glory, citing the recent MoUs entered into by the Odisha Government with Singapore.
Minerals, port-led development, green energy, green hydrogen, petrochemicals, seafood, Railways, among others, offer ‘huge’ potential for investments, the Prime Minister said, adding: “Now is the right time to invest in Odisha.”
Mohan Charan Majhi, Chief Minister of Odisha, said as a growth engine for the eastern Indian economy, the State has rich potential due to the availability of diverse natural resources, developed logistics for connectivity and peaceful law and order situation,
Majhi said that the state government was setting up plug-and-play industrial parks and FDI Clusters, adding: “Every part of Odisha offers some sort of opportunities. I invite all investors to invest here.”