Odisha’s RE Market Can Attract Rs.1.5 Trillion Investments: CEEW

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— and attract INR 3.5 lakh crore (~USD 42 billion) in investments by 2030, reveals a study by the Council on Energy, Environment and Water (CEEW).

The study was launched at the ‘Utkarsh Odisha – Make in Odisha Conclave’ in Bhubaneshwar by Anu Garg, Development Commissioner cum Additional Chief Secretary, Planning and Convergence Department, Government of Odisha. It found this investment could directly contribute INR 2 lakh crore (~USD 24 billion) to the state’s GDP and can help boost it by 23 percent.

CEEW study, 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 INR 1.5 lakh crore in investments and create 4 lakh new jobs by 2030. 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 INR 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.

Arunabha Ghosh, Chief Executive Officer (CEO), CEEW, said, “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.”

Promoting Circular Economy Across Odisha

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 INR 10,000 crore in market opportunities by 2030. Further, promoting value chains like lithium-ion battery recycling, plastic waste management, and electronic waste processing would not only address environmental challenges but also establish high-value industries that align with global sustainability goals.

Abhishek Jain, Director of Green Economy and Impact Innovations, CEEW, said, “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. Success will rely on engaging the private sector and local communities to create new markets, expand skills, and ensure equitable development.”

Renewables To Drive Job-Intensive Growth Across 

The study also emphasized 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.

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 The initiative also proposes skill-building programmes to prepare the state’s workforce for green jobs, while fostering partnerships with private enterprises to channel investments into emerging sectors like green hydrogen and battery recycling. By combining policy coherence, resource mobilisation, and stakeholder collaboration, the GrOI aims to deliver a sustainable and inclusive economic transition that benefits all regions of Odisha.