On India’s eastern coast, Odisha is emerging as a thriving business hub driven by key industries. The mining and minerals sector has increased demand for real estate in regions like Keonjhar and Jharsuguda. The steel industry centred around hubs like Kalinganagar and Angul, has fueled industrial and commercial real estate growth. Manufacturing and petrochemical investments around Paradip and Rayagada have boosted industrial real estate. Bhubaneswar’s IT and ITES sector is transforming the city’s real estate landscape. Due to tourism and hospitality, Odisha’s cultural legacy and natural beauty resulted in the establishment of hotels and resorts. Its real estate market also attracts investors and businesses as these industries grow.
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Business landscape in Odisha
Odisha boasts a multifaceted business landscape encompassing various industries and sectors. Here’s an overview of the industries that thrive in the state:
Mining and minerals: Odisha boasts a wealth of mineral resources, featuring substantial reserves of iron ore, coal, bauxite, and many other valuable minerals. The mining and minerals sector is a cornerstone of the state’s economy, drawing substantial investments and shaping the industrial landscape.
Steel and metallurgy: Odisha boasts a thriving steel and metallurgical industry pivotal in India’s steel production. Prominent companies like Tata Steel and Jindal Steel have established substantial operations within the state, solidifying Odisha’s stature as a significant player in this sector.
Information Technology (IT): Odisha has been fostering its Information Technology (IT) sector, with Bhubaneswar emerging as the nucleus of IT activities. The region has witnessed substantial growth in software companies, the establishment of IT parks, and the flourishing of technology startups, all contributing to the dynamic IT landscape in Odisha.
Agriculture and food processing: The agriculture and food processing industries play a pivotal role in Odisha’s economy, serving as primary sectors that have witnessed substantial growth. These sectors encompass various companies significantly contributing to the state’s agricultural and economic development.
Tourism: Odisha’s vibrant cultural heritage, breathtaking coastline, and architectural wonders serve as magnets for tourists from around the world. The tourism sector is a significant economic driver, fostering real estate development in key tourist destinations.
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Top companies in Odisha
Jindal Steel and Power(JSPL)
Industry: Steel and MiningÂ
Location: Angul, Odisha
Founded in: 1952
Jindal Steel and Power Limited, a subsidiary of Jindal Group, has established its significance in Odisha through its integrated steel and power business. The organisation’s focus on sustainable and environment-friendly practices sets it apart from other organisations in the industry. In addition to that, JSPL has contributed to not only Odisha’s but also India’s economy through its investment in various infrastructure projects.Â
Hindalco IndustriesÂ
Industry: Aluminium and Copper
Location: Sambalpur, Odisha
Founded in: 1958
Hindalco is one of the leading figures when it comes to the production of aluminium and copper in India. It has led to the development of various sectors such as metals, carbon black and textiles. The company has earned its name for its sustainable practices and contributions that it has made to the manufacturing industry.
Steel Authority of India(SAIL)
Industry: SteelÂ
Location: Rourkela, OdishaÂ
Founded in: 1973
Steel Authority of India Limited(SAIL) has easily become one of the largest steel producers in India. The organisation has a vital role in India’s infrastructure development and overall industrial growth. Not only does SAIL have a strong presence in Odisha, but has its name in various regions of the country.
Talcher FertilizersÂ
Industry: Chemicals and Fertilisers
Location: Talcher, Odisha
Founded in: 2015
Talcher Fertilisers is a state-owned company that produces urea and other fertilisers. It is part of the government’s efforts to boost the agriculture sector in Odisha. The company is committed to promoting sustainable farming practices and ensuring a consistent supply of high-quality fertilisers to support the region’s agricultural needs.
Gupta Power InfrastructureÂ
Industry: Power and Energy
Location: Bhubaneswar, Odisha
Founded in: 1961
Gupta Power Infrastructure Limited manufactures power transmission and distribution equipment. The company specialises in transformers, conductors, and other electrical infrastructure components. With over six decades of experience, it has established itself as a trusted provider of critical electrical solutions, contributing to the growth and reliability of the power sector in Odisha.
National Aluminium Company (Nalco)
Industry: Mining and Metals
Location: Bhubaneswar, Odisha
Founded in: 1981
National Aluminium Company (NALCO) is a Navratna PSU engaged in the mining and refining of bauxite and the production of aluminium. It plays a pivotal role in Odisha’s industrial and economic growth. NALCO’s commitment to sustainability and environmental responsibility is evident in its efforts to reduce carbon emissions and promote eco-friendly practices within the mining and metal industry.
Odisha Power Transmission Corporation (Optcl)
Industry: Power and Energy
Location: Bhubaneswar, Odisha
Founded in: 2004
Odisha Power Transmission Corporation (OPTCL) is responsible for electricity transmission and distribution in Odisha. It manages the state’s power transmission infrastructure, ensuring a reliable electricity supply. OPTCL continually invests in modernising the grid and enhancing grid resilience, making it a key player in providing an uninterrupted power supply for the people of Odisha.
Basudev Wood PrivateÂ
Industry: Wood and Timber
Location: Cuttack, Odisha
Founded in: 2002
Basudev Wood Private founded in 2002 and situated in Cuttack, Odisha, is a prominent player in the wood and timber industry. The company specialises in the manufacturing and trading of wood products, including plywood and timber. BWPL’s wide range of wood-related offerings caters to local and national markets, contributing to the growth of the construction and furniture sectors.
Balasore AlloysÂ
Industry: Mining and Metals
Location: Balasore, Odisha
Founded in: 1984
Balasore Alloys, established in 1984 and located in Balasore, Odisha, is a renowned manufacturer of high-carbon ferrochrome, ferrochrome, and various alloys. The company plays a pivotal role in meeting the steel industry’s demand for top-quality alloys, further bolstering Odisha’s status as a critical player in the mining and metals sector.
Grid Corporation Of Odisha (Gridco)
Industry: Power and Energy
Location: Bhubaneswar, Odisha
Founding Date: 1995
Grid Corporation Of Odisha (GRIDCO), founded in 1995 and headquartered in Bhubaneswar, Odisha, is a state-owned power transmission utility. GRIDCO’s primary responsibility is power procurement and distribution in Odisha. The corporation plays an indispensable role in maintaining the stability of the state’s power grid, ensuring a consistent and uninterrupted electricity supply.
Tata Steel MiningÂ
Industry: Mining and Metals
Location: Joda, Keonjhar, Odisha
Founded in: 2004
Tata Steel Mining, a subsidiary of the Tata Steel Group, was established in 2004 and operates from Joda, Keonjhar, Odisha. TSML is actively involved in mining operations, extracting essential resources such as iron ore and coal to support the steel manufacturing process. The company’s operations contribute significantly to the region’s steel industry’s growth and job creation.
Paradeep PhosphatesÂ
Industry: Chemicals and Fertilisers
Location: Paradeep, Odisha
Founded in: 1981
Founded in 1981 and situated in Paradeep, Odisha, Paradeep Phosphates Limited is a prominent producer of phosphatic fertilisers, phosphoric acid, and sulfuric acid. PPL’s products are indispensable to the agricultural sector, promoting increased crop yield and food security. The company plays a vital role in bolstering Odisha’s agricultural growth.
Odisha State Civil Supplies Corporation
Industry: Government/Public Sector
Location: Bhubaneswar, Odisha
Founding Date: 1980
Odisha State Civil Supplies Corporation, established in 1980 and headquartered in Bhubaneswar, Odisha, is a pivotal entity in the government/public sector. The corporation is responsible for procuring and distributing essential commodities ensuring food security in the state. OSCSC plays a crucial role in ensuring that essential goods reach the people, contributing to Odisha’s public welfare and social stability.
Commercial real estate demand in Odisha
The presence of these industries has significantly impacted the commercial real estate sector in Odisha:
- Office space: The burgeoning industries in Odisha, coupled with a rising demand for office space, have spurred the emergence of contemporary office complexes and IT parks in cities like Bhubaneswar and Cuttack.
- Rental property: The surge in professionals and employees from various industries in Odisha has boosted the rental property market. It has led to competitive rental rates and an uptick in property values, proving advantageous for property owners.
- Mixed-use developments: In Odisha, the real estate industry is witnessing a growing emphasis on mixed-use developments that seamlessly integrate residential, commercial, and retail spaces. This evolving trend aligns with the unique demands of local professionals and residents, fostering the development of self-sustaining neighbourhoods tailored to the region’s specific needs.
Impact of industries on Odisha’s real estate
In Odisha, the industrial and metallurgical sectors have significantly boosted the demand for industrial and logistics spaces, particularly in regions like Jajpur and Kalinganagar. This surge in demand has spurred the development of industrial zones and warehouses, thus playing a pivotal role in driving the state’s economic growth.
Simultaneously, the rapid growth of the IT sector in Bhubaneswar has a profound impact on the demand for commercial office spaces and IT parks. These advancements have generated employment opportunities and catalysed the expansion of residential areas in the state, reshaping Odisha’s real estate landscape.
FAQs
What are the major industries in Odisha?
Odisha's major industries include mining and metals, steel and metallurgy, information technology (IT), agriculture and food processing, and power and energy.
Which is the largest steel company in Odisha?
Tata Steel, with its significant presence in Kalinganagar, Odisha, is one of the largest steel companies in the state.
How has the mining sector contributed to Odisha's economy?
The mining sector in Odisha, known for its rich mineral resources, contributes significantly to the state's economy through mineral extraction and exports.
Which IT companies have operations in Bhubaneswar, Odisha?
Prominent IT companies in Bhubaneswar include Infosys, Wipro, and Tata Consultancy Services (TCS).
What is the role of NALCO in Odisha's industrial landscape?
National Aluminium Company Limited (NALCO) is a critical player in mining and refining bauxite and producing aluminium, contributing to Odisha's industrial growth.
How is the power supply managed in Odisha?
The Odisha Power Transmission Corporation Limited (OPTCL) is responsible for electricity transmission and distribution in the state, ensuring a reliable power supply.
Which location in Odisha is known for wood and timber industries?
Cuttack, Odisha, is known for its wood and timber industries, with companies like Basudev Wood Private Limited operating in the area.
What products do Balasore Alloys manufacture?
Balasore Alloys Limited specialises in manufacturing high-carbon ferrochrome, ferrochrome, and other alloys for the steel industry.
What is GRIDCO's role in Odisha's power sector?
GRIDCO Limited (Grid Corporation of Odisha) is responsible for power procurement and distribution, maintaining the state's power grid's stability.
How does Paradeep Phosphates contribute to agriculture in Odisha?
Paradeep Phosphates Limited is a major producer of phosphatic fertilisers, supporting agricultural growth by providing essential fertilisers to farmers in Odisha.
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