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Odisha produced 41.9% of total mineral production (excluding fuel oil and atomic minerals) in the country in 2022-23, according to a steel and mines official citing an Indian Bureau of Mines report. Odisha's mineral earnings reached ₹38,075 crore in 2022-23, giving the state a sufficient cushion for developmental spending, according to an official.
Diversification of manufacturing industries continues to be a driving force and opportunity. The list of Approved Sectors for Investment in Odisha has grown from 13 in 2015-16 to 32 in 2023-24, encompassing new-age investment areas such as aerospace and aircraft, green energy and equipment, speciality chemicals, ESDM, green hydrogen and derivatives, data centres, technical textiles and so on.
The present pattern of industrialisation has a high capital intensity ratio, resulting in lower employment, the official said, quoting the Odisha Economic Survey. The State is endowed with vast resources of a variety of minerals and occupies a prominent place in the country as a mineral-rich State.
Occupying an important position on the country’s map, Odisha's rich mineral reserves constitute 28% of India's total deposits: iron ore, 24% Coal, 59% Bauxite, and 98% Chromite.
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