Odisha’s Critical Mineral Sector Set to Reach USD 20 Billion by 2032, Study Finds

A new industry study has projected that Odisha’s critical mineral sector is poised to achieve a valuation of USD 20 billion by 2032, underscoring the eastern Indian state’s growing importance in the global supply chain for strategic minerals.

The study highlights Odisha’s vast deposits of critical minerals, including lithium, nickel, cobalt, graphite, and rare earth elements, which are essential for emerging technologies such as electric vehicles, renewable energy systems, and advanced electronics. With continued policy support, investment inflows, and infrastructure development, the sector is expected to attract significant domestic and international capital.

According to the research, enhanced exploration activities and adoption of modern mining technologies will play a pivotal role in unlocking the state’s mineral potential. Streamlined regulatory frameworks and industry-friendly initiatives by the Odisha government are also credited with improving ease of doing business and catalysing project execution across the mineral value chain.

The study emphasises the potential for downstream industries to develop around mineral processing and beneficiation, creating employment opportunities and boosting local economies. Experts believe that strategic partnerships between the public and private sectors could accelerate development timelines and strengthen Odisha’s position as a key supplier of critical minerals.

Stakeholders view the projected USD 20 billion valuation as a significant milestone that aligns with India’s broader objectives of self-reliance in critical minerals and reduced dependence on imports. The growth of Odisha’s mineral sector is expected to contribute substantially to the national economy while supporting sustainable industrialisation.