Odisha’s Critical Minerals Sector Expected to Reach $20 Billion by 2032

Odisha’s critical minerals sector is projected to expand sharply over the next decade, with its total value expected to rise to between $18 billion and $20 billion by 2032 from around $8 billion at present, according to a study released on Monday. The outlook reflects a strategic shift in the state’s mining and processing ecosystem that industry analysts say could position Odisha as a key hub in India’s clean energy supply chain.

The study, presented at the recently concluded Global Cleantech Expo-Odisha 2026, suggests that focused policies, investment incentives and infrastructure improvements are driving the transformation of the sector. While mining currently accounts for the largest share of the sector’s value, projections indicate that the processing and manufacturing segments could grow rapidly, with their combined contribution expanding several times over current levels by 2032.

Officials and industry leaders at the event highlighted Odisha’s growing reserves of critical minerals such as lithium, graphite, vanadium and cobalt, which are essential inputs for technologies including batteries, electric vehicles and renewable energy systems. Initiatives to develop dedicated corridors for rare earths and critical mineral blocks are under way, intended to support downstream industries and reduce dependence on imports.

The state government’s push has attracted pledges from several major companies to invest in processing and manufacturing facilities, leveraging Odisha’s strategic connectivity to domestic and international markets. With a strong auction pipeline of critical mineral blocks and supportive policy frameworks, analysts say Odisha could play a central role in India’s pursuit of self-reliance in clean technologies.