From resource strength to digital growth: Odisha’s FinTech and GCC moment

States will play a defining role in this transformation, acting as focus spaces where national vision is converted into tangible outcomes.

Written by Guest

Updated: February 9, 2026 13:41 IST

Under Hon’ble PM Narendra Modi, India’s digital public infrastructure has created an unprecedented foundation for future. (TRepresentational image: Canva)

By Mohan Charan Majhi, Chief Minister, Odisha

India stands at a decisive inflection point in its digital and economic journey. The next phase of growth will not be defined by technology adoption alone, but by how effectively innovation is translated into jobs, enterprise creation, financial inclusion and resilient economic systems.

States will play a defining role in this transformation, acting as focus spaces where national vision is converted into tangible outcomes. Odisha today is consciously positioning itself at the forefront of this shift.

A State Driving National Transformation

Under Hon’ble PM Narendra Modi, India’s digital public infrastructure has created an unprecedented foundation for future. Odisha’s approach has been to convert this national strength into local execution with global relevance, demonstrating how states can lead employment generation, digital integration, and long-term investment attraction.

This ambition is backed by strong economic fundamentals. Odisha’s economy expanded by 10% in 2024–25 to ₹9.5 lakh Crore, with industry contributing nearly 44% of GVA, significantly higher than the National average. Fiscal discipline remains robust, with the State ranked No. 1 in NITI Aayog’s Fiscal Health Index 2025 and maintaining prudent deficit and debt levels.

From Resource Strength to Knowledge Leadership

For decades, Odisha powered India’s industrial rise through leadership in coal, iron ore, bauxite, chromite, nickel, and manganese, alongside global-scale steel and aluminium production. Today, with the double engine sarkar in Odisha, that foundation is evolving toward a knowledge-driven and technology-driven economy, a journey from minerals to microchips.

Policy reforms in IT, AI, semiconductors, electronics manufacturing, and GCC development are creating the architecture for this transition. The State’s GCC policy alone envisions ₹1,000+ Crore in investment, five hubs, and 50,000 jobs, supported by targeted incentives and infrastructure.

This structural shift reflects a deeper conviction: future prosperity will be determined not only by what we extract from the earth, but by what we create through talent, technology, and trusted digital systems.

BharatNetra: Converting Vision into Outcomes

At the heart of this transformation lies BharatNetra, Odisha’s long-term strategy for technology-led, inclusive growth. Rather than focusing solely on adoption, BharatNetra reframes digital policy around measurable outcomes—skills, employment, enterprise creation, and global competitiveness.

By linking policy with execution and global collaboration like GFTN spanning more than 130 countries, BharatNetra seeks to ensure that technology investments translate into livelihoods and local value creation. Programmes in FinTech, InsurTech, and AI are being designed not just for innovation, but for employability and enterprise readiness.

Bhubaneswar: India’s Emerging FinTech and GCC Gateway

Odisha’s demographic strength with a large working-age population of 65% and strong skilling ecosystem, combined with robust infrastructure, policy clarity, and fiscal stability, creates a compelling destination for global capability centres and digital finance institutions.

Bhubaneswar is steadily emerging as an eastern gateway for Asia-Pacific financial innovation, linking global capital with Indian talent and enterprise.

As Odisha’s digital and financial ecosystems mature, global engagement becomes both a necessity and an opportunity. It is in this context that global level events like Black Swan Summit India 2026, to be hosted in Bhubaneswar, assumes relevance.

With participation from 1,700+ delegates across 24 countries and nearly 100 speakers from five continents, the Summit signals Odisha’s arrival as a globally connected centre for AI-enabled finance, innovation, and capability services. Equally important, it demonstrates how Indian states can shape global economic conversations, not merely respond to them.

Toward Viksit Odisha, Viksit Bharat

For Odisha, this is a defining moment, one that affirms our commitment to inclusive growth, future-ready talent, trusted digital infrastructure, and global collaboration at scale.

For India, it is a reminder that the journey to Viksit Bharat 2047 will be powered not only by national vision, but by State-level leadership that converts possibility into progress. And from Bhubaneswar, that future is already taking shape.

Disclaimer: The views expressed are the author’s own and do not reflect the official policy or position of Financial Express.

This article was first uploaded on February six, twenty twenty-six, at thirty-seven minutes past six in the morning.