Orissa is one of the most vibrant economies of the emerging India. The state has has remarkable geological potential. Orissa ranks sixth in mineral production in the entire country. With vast mineral deposits, such as coal, iron ore, manganese ore, bauxite and chromite. Orissa attracts numerous investors across the globe to set up business in the state. Orissa government is putting great emphasis on the growth and development of industry in the state.
SGDP of Orissa
Source: Office of the Accountant General Orissa
Over past few years, Orissa has grown remarkably in terms of state gross domestic product (GSDP). The GSDP of the state has improved impressively at a growth rate of 9.53 per cent between 1999-00 and 2005-06. The same has increased from USD8.16 billion in 1999-00 to USD14.08 billion in 2005-06. Remarkable growth has been observed in all the three sectors, such as primary (comprising agriculture and livestock, fishing and mining and quarrying), secondary (comprising manufacturing, construction and electricity, gas and water supply) and tertiary (comprising communication, financial services, real estate and related services, public administration and other services). Notably, the secondary and tertiary sectors have contributed a lot towards the improved economy of the state.
Sectoral Contribution of GSDP
The secondary and tertiary sectors in particular have shown significant increase in contribution to GSDP. The primary sector currently accounts for 42.7 per cent of the Net State Domestic Product (NSDP). The secondary sector shows a growth rate of 15.4 percent, while the tertiary sector account for about 41.9 percent.