BHUBANESHWAR: With the information technology (IT) sector identified as a major driver for Odisha achieving its goal of becoming a developed State by 2036, the state government has set its eyes on developing Bhubaneswar as a Fintech City and decentralising IT growth beyond its Capital city.
The plan also includes establishing eight new digital hubs in tier-II cities of the state, creating semiconductor and electronics manufacturing clusters and developing the coastal belt into a data centre powerhouse.
The state is also advancing the Odisha Digital Economy Mission with a broad roadmap to facilitate over Rs 16.73 lakh crore investment for digital infrastructure.
As part of the strategy, the state has planned to develop eight specialised digital and tech hubs to reduce the concentration of IT opportunities in the state capital.
The cities and regions like Cuttack, Rourkela, Sambalpur-Jharsuguda, Berhampur, Jajpur, Balasore-Bhadrak, Puri-Konark and Paradip-Dhamra-Gopalpur will be developed as hubs of LegalTech, data centre, electronics assembly, semiconductor, digital logistics, defence tech, smart manufacturing, IoT, TourismTech and hardware exports.
Among the flagship proposals, Bhubaneswar will be transformed into a dedicated Fintek City, envisioned as the FinTech and InsurTech capital of eastern India.
The government has already collaborated with Singapore-based Global Finance and Technology Network (GFTN) to nurture talent, expand digital public infrastructure and drive innovation in financial technologies.
Principal secretary of Electronics and IT department Vishal Kumar Dev said the initiative is expected to create over 50,000 high-paying jobs and redefine the state’s position in the financial innovation landscape, besides generating an annual gross value added (GVA) of Rs 40,000 crore by 2036.
These tier-II cities and coastal regions are being designed as next-generation growth centres with strong infrastructure and skilling pipelines, he said.
The government has also planned to develop five world-class global capability centres (GCC) hubs, starting with the Bhubaneswar-Cuttack-Puri belt and the Rourkela-Jharsuguda-Sambalpur corridor to serve metal, mining, manufacturing and other key sectors.
The hubs are expected to attract more than 100 mid-sized GCCs in banking, financial services and insurance (BFSI), healthcare, retail, manufacturing and mining.
Odisha is also gearing up to become a tier-IV data centre hub with an undersea cable landing station coming up in Puri, which will significantly enhance the state’s global connectivity.
Major players, including Adani, CtrlS, Zoho, YOTTA and the Reserve Bank of India, have also committed to data centre projects. In electronics manufacturing, the state plans to operationalise three world-class electronics manufacturing clusters (EMCs) with port-linked infrastructure to attract global anchor units and promote green electronics, semiconductor packaging and design startups.
A semiconductor-ready ecosystem focusing on OSAT/ATMP units and fabless design companies will also come up in Bhubaneswar, Cuttack and Paradip.
Terming it as the state’s most comprehensive digital push ever, Dev said, strong emphasis is being laid on scaling IT exports, building world-class tech parks and skilling youth for emerging domains.
“The state government aims to add Rs 60,000 crore annually to its GSVA from IT services. More than two lakh jobs are expected to be created over the next decade as the state rolls out its new IT Policy 2025, develops IT parks in PPP mode, and expands cloud and cybersecurity training to one lakh youth,” he said.
Industry experts said Odisha is catching up with the top-performing digital states with a renewed focus on the IT and electronics sector.
"But to stand alongside Karnataka, Maharashtra and Telangana, the state must prioritise its digital infrastructure, chip design ecosystems and enterprise tech talent. Apart from building IT towers, the government should keep ready litigation-free land to attract global investments," they said.
The principal secretary said the goal is not just to build infrastructure but to place Odisha firmly on the global digital map. The next decade will be transformative for Odisha, and the government has set its vision to develop the state as a leading technology powerhouse in the country, he added.
Places proposed and digital/tech hubs include Bhubaneswar- Fintek City, Cuttack-LegalTech, data centre and disaster recovery, Berhampur - ESDM, electronics assembly and IT services, Rourkela - Semiconductor ATMP/OSAT and AI/ML R&D, Sambalpur- Jharsuguda region - Digital logistics tech and data analytics, Balasore-Bhadrak region - ESDM and defence tech, drones, electronics, Jajpur-Kalinganagar region - Smart manufacturing, IoT and Industry 4.0, Puri-Konark region - TourismTech, digital art and heritage AR/VR, Paradip-Dhamra-Gopalpur region - BESDM and hardware export zones.