Odisha’s critical minerals industry is entering a period of rapid expansion. Currently valued at around USD 8 billion, the sector is projected to grow significantly over the next decade. This surge results from strong policy direction and strategic investments that are reshaping how minerals are mined, processed, and manufactured.
Dramatic Market Expansion by 2032
As per Economic Times, recent projections indicate that Odisha’s critical minerals value could increase to between USD 18 billion and USD 20 billion by 2032, more than doubling its size. This expansion reflects an intentional shift from primarily extracting raw materials to boosting processing and manufacturing activities within the state.
Shift in Sector Composition
Investors and policymakers expect the structure of the industry to transform markedly by 2032:
- Mining share will rise from 40 % to roughly 50 %.
- Processing share will jump from about 10 % to around 40 %.
- Manufacturing share will grow from 5 % to nearly 30 %.
This transition highlights Odisha’s effort to become a hub not only for mineral extraction but also for value-added industrial activity.
Events and Strategic Initiatives
The Global Cleantech Expo-Odisha 2026, held in Bhubaneswar, showcased this sector’s potential by gathering government officials and industry leaders. The event underscored Odisha’s growing appeal as a destination for clean technology and critical mineral investments.
Resource Discoveries and Industry Interest
Recent discoveries of lithium in Nayagarh and other minerals like graphite, vanadium, and cobalt are accelerating the build-out of upstream and downstream supply chains. At the same time, over ten major firms have pledged substantial investments in the state’s expanding manufacturing ecosystem.
Government Support and Vision
Odisha’s government is also pushing a broader economic vision that balances environmental stewardship with industrial growth. Official efforts, such as dedicated mineral auctions and sustainability-oriented frameworks, aim to ensure that economic gains benefit local communities as well as attract long-term industry commitments.
