Odisha has approved investments worth ₹76,612 crore across multiple sectors, marking a major push to diversify the state’s industrial base and enter the high-value lab-grown diamond industry. The decision, cleared by the state government, is expected to catalyse manufacturing, technology, and skilled employment opportunities in the state.
Among the key new initiatives is the state’s entry into the lab-grown diamond sector, positioning Odisha alongside emerging hubs in Surat and other diamond-processing centres. This move aligns with national ambitions to strengthen India’s role in synthetic gemstone manufacturing, which has seen rapid growth in global demand for affordable, high-quality lab-grown diamonds.
The approved investments span sectors such as minerals, energy, infrastructure, and emerging technologies, leveraging Odisha’s strengths in mineral resources and port-led connectivity. The state’s industrial policy aims to attract private capital, support MSMEs, and create a robust ecosystem for precision manufacturing and advanced materials.
This investment clearance reinforces Odisha’s strategy to become a leading industrial destination in eastern India, complementing its existing focus on steel, aluminium, and mining with new high-value sectors like lab-grown diamonds and advanced manufacturing.
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