Odisha has the potential to increase its merchandise exports to $50 billion by FY30 if the state’s share in India’s total exports doubles from the current 2.4% to around 5%, according to a new report released by the Export-Import Bank of India (Exim Bank).
The report, titled ‘The Odisha Opportunity: A Trade and Investment Roadmap,’ highlights multiple growth scenarios for the state’s export sector while identifying several high-potential industries that could drive future expansion.
According to the report, Odisha’s merchandise exports stood at $10.8 billion in FY26, significantly below the ₹3.5 trillion ($39.6 billion) target outlined in the Odisha Export Policy 2022.
If the state continues to grow at its current compound annual growth rate (CAGR) of 8.4%, exports are expected to reach $14.9 billion by 2030. However, under a more optimistic scenario aligned with India’s $2 trillion export target, Odisha’s exports could increase to $24.4 billion.
The report suggests that an ambitious export strategy focused on expanding Odisha’s share in national exports could propel the state’s merchandise exports to $50 billion by FY30, representing growth between 22.7% and 35.9%.
One of the report’s key findings is the significant concentration of exports in a limited number of districts. The top 15 districts account for 98.9% of Odisha’s total exports, highlighting the need to create more balanced regional participation.
Several districts, including Jharsuguda, Angul, Sambalpur, Jagatsinghpur, and Jajpur, have been identified as ‘missing middle export districts,’ while Sundargarh, Kalahandi, Khurda, Balasore, and Rayagada have been identified as regions with strong export expansion potential in the short to medium term.
The report also emphasized the need to diversify Odisha’s export basket. Researchers identified 626 underperforming products that could help the state reduce its dependence on traditional exports such as metals and minerals and expand into higher-value manufacturing sectors.
Among the sectors with the highest untapped potential are aerospace and defence, marine products, semiconductors, agro and food processing, textiles, apparel, and technical textiles.
Speaking on the report’s findings, Tarun Sharma, Deputy Managing Director of India Exim Bank, said the institution has been actively supporting Odisha’s export growth through several initiatives and announced that Exim Bank will soon open a new regional office in Bhubaneswar.
The report recommends developing a comprehensive, long-term export strategy that strengthens manufacturing capabilities, broadens district-level participation, promotes product diversification, and enhances Odisha’s position in global value chains.
For the textile industry, the report presents a significant opportunity, as textiles, apparel, and technical textiles have been identified among the state’s most promising sectors for export-led growth over the next decade.
