Odisha set to increase steel production capacity to 130 MT per year by 2030: CM Mohan Charan
Addressing a gathering of industry leaders from the steel and metal sectors during the 'India Steel-2025' conference in Mumbai, he said steel is the mother industry of Odisha. At present, Odisha leads the country in the production of both crude steel and stainless steel, with 54 integrated steel plants and an installed capacity of 41.21 million tonne (MT) per annum. The target is to produce over 130 MT of steel a year by 2030, he said.
'The state has played a pivotal role in the success of the steel sector in the country, accounting for more than 55 per cent (pc) of the iron ore production. My home district Keonjhar alone contributes over 50 pc of Odisha's iron ore production and numerous companies have flourished through their mining operations in the district,' he added.
He said Odisha has successfully auctioned 44 major mineral blocks following the amendment to the MMDR Act in 2015. Currently, the state is auctioning eight more blocks with reserves of around 323 MT and plans to auction 22 additional blocks by March 2026. India's iron ore consumption is projected to reach 340 MT by 2030-31, and Odisha aims to contribute nearly 240 to 245 MT, increasing its share in national production from 58 pc to 70 pc.
'Not only iron ore, the state with 16 operational coal mines accounts for 24 pc of the country's total output. We have produced 178 MT of iron ore, 269 MT of coal, and 3.18 MT of chromite in the last fiscal alone,' he said.
The chief minister said the government is now focused on transitioning from a model of raw material extraction to value creation.
'Odisha is developing a full-fledged metal-based manufacturing value chain that will promote industries in engineering goods, transport systems, mining machinery, and components for aerospace and defence. Come, invest in Odisha and be part of the Samruddha Odisha growth story which has already begun,' he said.
Majhi assured potential investors of a strong support system including land availability, road and rail connectivity, electricity, water, and a pro-industry environment. Odisha is witnessing massive infrastructure investments across railways, highways, airports, ports, logistics hubs, and power corridors, thanks to Prime Minister Narendra Modi's vision of Viksit Bharat by 2047, he said.
The chief minister also held strategic engagements with industry stakeholders in different sectors. Senior representatives from leading chemicals companies including Dow Chemicals, Epsilon Carbon, Kothari Petrochemicals and Deepak Fertilisers discussed their potential investments and expansion plans. CMD of S Kant Pharmaceuticals Bharath Shah discussed the possibilities for developing the drug manufacturing sector in the state.
Steely resolve
Transitioning from resource extraction to value creation
130 MT of annual steel production by 2030
Odisha to contribute 70% of India's projected 340 MT iron ore consumption by 2030-31
OMC to achieve 5 MT of iron ore production by 2029-2030
Auction of 22 more mineral blocks by March 2026
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
13 minutes ago
- Economic Times
Hardeep Singh Puri & Fadnavis counter Rahul Gandhi's ‘dead economy' claim with IMF data
Union Minister Hardeep Puri and Maharashtra Chief Minister Devendra Fadnavis on Sunday said the India's economy is "strong, steady, resilient" and its growth story continues. These statements come after Congress leader Rahul Gandhi in a X post on Thursday echoed US President Donald Trump's view that the Indian economy was "dead", and targeted Prime Minister Narendra Modi. The Maharashtra Chief Minister attached the latest IMF World Economic Outlook report, wherein it projected India's growth in 2025 and 2026 at 6.4 per cent -- the highest among the fastest major IMF report pegged the US's growth at 1.9 per cent and 2.0 per cent, respectively. For China, the rates were pegged at 4.8 per cent and 4.2 per cent, respectively. — HardeepSPuri (@HardeepSPuri) Fadnavis attributed this projected economic growth to the "visionary leadership" of Prime Minister Narendra Modi. "Under the visionary leadership of Hon PM Narendra Modi Ji, India continues its steady and resilient economic growth, earning global recognition among emerging market and developing economies," he wrote on X. "These projections place India among the top emerging market and developing economies with consistent performance over the years," he added, referring to the latest IMF projections. "This is the result of focused governance, structural reforms and unwavering commitment to a Viksit Bharat." On similar lines, attaching the same IMF report, Union Minister Hardeep Puri also lauded the country's growth journey. "India is at the forefront of the global economy! Despite uncertainties prevailing worldwide, India will remain the fastest-growing economy. These figures are a strong response to those who lack faith in India's capabilities. This pace indicates that India will soon further strengthen its position among the world's leading economic powers," Minister Puri wrote on X, in Chief Minister Himanta Biswa Sarma had also earlier this week shared the same IMF report to affirm that India's economy was set to "grow as a robust economy and is poised to be the fastest growing emerging market in 2025 and 2026 as well."In September 2022, India had surpassed the UK to become the fifth-largest economy in the has made quite a turnaround, climbing the ladder of economic growth. This can be gauged from the fact that it was ranked 11th in 2013-14, and India has now positioned itself to become the fourth-largest economy 2013, India was placed in the league of 'Fragile 5' economies. The term 'Fragile 5' was coined by a Morgan Stanley analyst and refers to a set of five emerging countries, including India, whose economies were not doing well. The other four countries were Brazil, Indonesia, South Africa, and realise the vision of 'Viksit Bharat' or a developed nation dream by 2047, India will need to achieve a growth rate of around 8 per cent at constant prices, on average, for about a decade or two, the Economic Survey document for 2024-25 tabled on January 31 expected lines, the Indian economy grew by 6.5 per cent in real terms in the recently concluded financial year 2024-25. In 2023-24, India's GDP grew by an impressive 9.2 per cent, continuing to be the fastest-growing major to official data, the economy grew 8.7 per cent and 7.2 per cent, respectively, in 2021-22 and 2022-23. (With agency inputs)
New Indian Express
13 hours ago
- New Indian Express
Karnataka to replicate ELCITA model across other industrial zones
BENGALURU: Karnataka will replicate its successful Electronic City Association Township or ELCITA model across other industrial zones to promote decentralised and cluster-based industrial development, Principal Secretary, Commerce and Industries Department, Dr S Selvakumar, said on Saturday. Selvakumar also confirmed that tax collections from Special Investment Regions (SIRs) will now be directly handled by the Karnataka Industrial Areas Development Board (KIADB), with 70% of the proceeds reinvested into infrastructure within those regions. He was speaking at the Viksit Bharat @2047 Investors' Roundtable Conference, where Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industries, Amardeep Singh Bhatia, and principal secretaries from across south India gathered to align state-level initiatives with national industrial growth strategies. Selvakumar also highlighted state's ease-of-doing-business reforms, mentioning that the state's single-window clearance system now covers 105 of 153 services, reducing approval delays for investors. The roundtable was organised under the National Industrial Corridor Development Programme (NICDP). Bhatia urged southern states to adopt NICDP model, which includes 20 sector-specific industrial parks equipped with essential infrastructure such as water and power supply, electronics testing facilities, and solid waste management systems. Bhatia also outlined the goals of India's Vision 2047, calling for stronger Centre-state collaboration, support for MSMEs, and the acceleration of deep-tech startups for industrial growth.
Hans India
14 hours ago
- Hans India
CM disburses Rs 697 cr under PM-KISAN
Bhubaneswar: In a major boost to farmers' welfare, Odisha Chief Minister Mohan Charan Majhi on Saturday disbursed the 20th instalment of Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme to more than 34.85 lakh farmers across the State, releasing total assistance of Rs 697 crore. The disbursement event was held on ICAR-CIFA campus on the outskirts of Bhubaneswar and marked the State-level observance of PM-Kisan Diwas. This initiative coincided with Prime Minister Narendra Modi's nationwide rollout of the instalment from Varanasi, where Rs 21,000 crore was digitally transferred to 9.7 crore farmers across India under the scheme. Addressing a large gathering of farmers and officials, Majhi reiterated his government's commitment to agricultural growth and farmer-centric governance. 'Our government is of the people and for the people, especially for our farmers. In a short time, we have rolled out multiple initiatives for their welfare. Today, over 50 lakh farmers in Odisha are receiving Rs 4,000 annually through the CM-Kisan scheme. Combined with PM-KISAN, they now receive Rs 10,000 per year,' he said. To ensure no eligible farmer is left behind, the Chief Minister announced a State-wide saturation drive across all blocks. 'We are determined to include every eligible farmer in the scheme. The funds are being transferred directly to farmers' bank accounts to ensure complete transparency through digital means,' he added. Majhi also emphasised the importance of crop diversification and the promotion of allied sectors like fisheries and animal husbandry to enhance farmer incomes. 'We must move beyond the goal of doubling income - farmers' earnings should increase manifold. A prosperous and developed India depends on the prosperity of our farmers,' he said. The Chief Minister further highlighted the success of Odisha's Samruddha Krushak Yojana, under which farmers receive additional Rs 800 input assistance per quintal of paddy. Last year alone, the State disbursed Rs 6,000 crore to 17 lakh farmers during the Kharif season and Rs 1,600 crore to 3 lakh farmers during Rabi. The event marked a significant milestone in Odisha's mission to uplift its agricultural sector and align with the national goal of building a self-reliant, developed India as envisioned by Prime Minister Modi.
