Bhubaneswar, January 30: Odisha has the potential to create approximately 10 lakh new full-time equivalent (FTE) jobs across three green sectors -- energy transition, circular economy, and bio-economy and nature-based solutions, attracting Rs 3.5 lakh crore in investments by 2030, according to a study by the Council on Energy, Environment and Water (CEEW).
The study was launched on Wednesday at 'Utkarsh Odisha - Make in Odisha Conclave,' held in Bhubaneswar. According to a statement from the Odisha government, the study finds that this could directly contribute Rs 2 lakh crore to the state's GDP, boosting it by 23 per cent and positioning Odisha as a leader in India's green growth.
"The study identifies 28 green value chains, ranging from seaweed cultivation and bamboo processing to floating solar and e-waste recycling, which together represent immense economic potential. Its proposed Green Odisha Initiative provides a roadmap to integrate policies, investments, and actions across sectors to realise these opportunities," read the statement.
The study, titled "How a Green Economy Can Deliver Jobs, Growth and sustainability in Odisha," calculates the jobs, market, and investment opportunities across these 28 value chains.
"About 14 value chains in the energy transition -- such as solar, wind, battery storage systems, and electric vehicle manufacturing -- could attract Rs 1.5 lakh crore in investments and create 4 lakh new jobs by 2030," the statement added.
Further, bio-economy and nature-based solutions such as sustainable packaging, bio inputs for agriculture, mangrove restoration, agroforestry, and seaweed cultivation could create over five lakh jobs while contributing Rs 26,000 crore to Odisha's economy.
"Additionally, sustainable tourism offers a significant opportunity to leverage the state's rich cultural and ecological heritage, driving inclusive growth and expanding economic opportunities in underserved regions," the official statement mentioned.
Arunabha Ghosh, CEO, CEEW, said, "India's transition to a green economy will be shaped by the vision and actions of its states, and Odisha is leading the charge. As the first state to secure global climate funding and adopt climate budgeting, Odisha demonstrates how bold policy innovation can drive transformative change."
"By leveraging its natural diversity and critical mineral resources, the state could now become a hub for green industries and sustainable livelihoods from solar to seaweed, setting a benchmark for aligning economic growth with climate resilience. As India looks ahead to the Union Budget on 1 February, Odisha's leadership offers a blueprint for making the green economy a national priority, accelerating India's journey toward a sustainable and equitable future," she added.
The CEEW study also found that promoting a circular economy in Odisha through recycling and reuse initiatives could generate over 30,000 new jobs and Rs 10,000 crore in market opportunities by 2030.
Abhishek Jain, Director, Green Economy and Impact Innovations, CEEW, said, "This pioneering CEEW study broadens the understanding of emerging green opportunities, which are currently off the radar of policymakers, economists, industrialists, and other key stakeholders. It highlights Odisha's immense potential and provides a clear action plan for unlocking it. The state can integrate resources and overcome challenges in scaling up green sectors by adopting a whole-of-government approach through the Green Odisha Initiative.
The study also emphasised the need to focus on building a green economy beyond renewables to drive job-intensive growth and inclusive development. CEEW analysis found that value chains within the circular economy and bio-economy, including NbS, offered higher jobs-to-investment ratios than even renewables, with FTE jobs per crore of investment being 12 and 9 times higher in the circular economy and bio-economy, respectively, compared to the energy transition sector.
Further, the CEEW study recommends the Green Odisha Initiative as a comprehensive plan to scale these chains across the state. Its Common Results Framework would establish department-specific goals and enable the convergence of budgets across departments to promote targeted interventions, such as prioritising coastal regions for seaweed farming or incentivising urban waste recycling in industrial zones.
