Table of Contents
Introduction to Bhubaneswar’s Economy
Bhubaneswar, the capital city of Odisha, has emerged as one of India’s fastest-growing economic hubs. Ranked as the best place to do business by the World Bank in 2014, the city has transformed from a traditional administrative center into a thriving commercial, IT, and industrial hotspot. With a robust GDP, increasing per capita income, and significant investments in infrastructure, Bhubaneswar is poised to become a key player in India’s economic growth story. This article explores Bhubaneswar GDP, a key economic sectors, employment trends, government policies, and future growth potential.
Bhubaneswar’s GDP: Key Statistics & Contributions
- Metropolitan GDP: ₹1.17 trillion (~$14.8 billion), contributing 0.43% to India’s GDP (Rank: 22nd among Indian metros).
- Odisha’s GSDP (2024-25): ₹9.5 trillion (current prices), up from ₹8.6 trillion in the previous year.
- GDP Growth Rate: 7.2% (2024-25), surpassing the national average of 6.4%.
- Per Capita Income: ₹1,82,548 (10.6% growth), closing the gap with India’s average (₹2,00,162).
Bhubaneswar’s economy is fueled by IT, manufacturing, tourism, and real estate, supported by government policies and private investments.
Major Economic Sectors Driving Growth
A. IT & ITES Industry
Bhubaneswar is a rising IT hub, with exports worth ₹12,904.5 crore (2023-24). Major companies include:
- Infosys, TCS, Wipro, Tech Mahindra, IBM, Capgemini, Deloitte
- IT Parks: Infocity-1, STPI-Bhubaneswar, JSS STP
- Employment: Over 300 IT firms and startups operate in the city.
B. Manufacturing & Industrial Growth
Key industries:
- Steel, Automobile, Pharma, Electronics, Food Processing
- Major Companies: NALCO, POSCO India, Bharat Biotech, Britannia Industries
- Industrial Zones: Rasulgarh, Mancheswar, Chandaka, Bhagabanpur
C. Tourism & Hospitality
- 1.5 million tourists annually (heritage sites, temples, beaches).
- Hospitality Boom: New hotels, resorts, and shopping malls (e.g., Lulu Mall).
D. Real Estate & Infrastructure
- Smart City Projects: Metro rail, ring roads, new airport terminals.
- Commercial & Residential Growth: DLF, Reliance, and other developers investing heavily.
E. Agriculture & Allied Sectors
- 19% of GSVA, growing at 3.3%.
- Agri-logistics hubs boosting rural-to-urban supply chains.
Employment & Business Opportunities
- High Employment Growth: Ranked #1 among Tier-2 cities (ASSOCHAM).
- Startup Ecosystem: Govt. incentives for tech and manufacturing startups.
- Skilled Workforce: IIT Bhubaneswar, AIIMS, NISER producing top talent.
Government Initiatives & Investments
- Industrial Policy 2025: Tax breaks for IT, manufacturing, and green energy.
- Mega Economic Zone (BCPPER): $500 billion metro economy vision by 2047.
- Smart City Mission: Upgraded infrastructure, digital governance.
Future Economic Projections & Mega Projects
- 8-8.5% GDP Growth (2025-26)
- Green Economy Push: ₹2 lakh crore investment in renewables.
- Aerotropolis & Medi-City: Enhancing logistics and healthcare.
Bhubaneswar vs Other Major Indian Cities (2025)
| Metric | Bhubaneswar | Bengaluru | Hyderabad | Pune | Jaipur | Lucknow |
|---|
| Metro GDP (approx.) | ~$14.8 bn (₹1.17T) | ~$150 bn (₹12T) | ~$80 bn (₹6.5T) | ~$69 bn (₹5.5T) | ~$30 bn (₹2.4T) | ~$28 bn (₹2.3T) |
| Rank (GDP) | ~22nd in India | 3rd | 5th | 6th | ~13th | ~15th |
| Main Strength | IT & mining, admin, education | Tech & startups | Pharma, IT, aerospace | Auto, IT, education | Tourism, textiles, gems | Admin, trade, manufacturing |
| IT exports (approx.) | ₹12.9K cr (2023–24) | ₹1.8 lakh cr+ | ₹1.5 lakh cr+ | ₹50K cr+ | Negligible | Negligible |
| Population (metro) | ~1.5 million | ~14 million | ~11 million | ~7 million | ~4 million | ~4 million |
| Growth Rate (2024–25) | 7.2% | ~8.5% | ~8% | ~7.5% | ~6.5% | ~6.7% |
| Urbanization level | ~65% city core, lower regionally | ~88% | ~80% | ~85% | ~70% | ~60% |
| Future Plans | $500 bn metro region by 2047 (Bhubaneswar-Cuttack-Puri-Paradip) | Silicon Valley of India 2.0; global innovation hub | World-class pharma & aviation clusters, global IT hub | Global auto & EV hub, large knowledge parks | Heritage city revamp, new infra | Eastern UP trade hub, defense manufacturing |
Challenges & Opportunities
- Challenges: Urban congestion, skill gaps in non-IT sectors.
- Opportunities: IT expansion, industrial diversification, tourism boost.
Conclusion
Bhubaneswar’s economy is on an upward trajectory, driven by IT, manufacturing, and infrastructure growth. With strong government support and increasing private investments, the city is set to become a leading economic powerhouse in Eastern India.
FAQ Section
Q1: What is Bhubaneswar’s current GDP?
A: Bhubaneswar’s metropolitan GDP is ₹1.17 trillion (~$14.8 billion).
Q2: Which sectors contribute most to Bhubaneswar’s economy?
A: IT, manufacturing, tourism, real estate, and agriculture.
Q3: How is Bhubaneswar’s job market performing?
A: It has the highest employment growth among Tier-2 cities in India.
Q4: What are the upcoming mega projects in Bhubaneswar?
A: BCPPER economic zone, smart city upgrades, and metro rail.
Q5: Why is Bhubaneswar attractive for IT companies?
A: Low operational costs, skilled workforce, and government incentives.
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