Odisha inks pact with IIM-Sambalpur to develop state's 'first bio-economy report'

The Odisha government has taken a major step toward building a sustainable and innovation-driven economy by signing an MoU with IIM-Sambalpur to develop the state’s first-ever bio-economy report. The agreement was signed on Thursday at Kharvel Bhawan, in the presence of Science and Technology Minister Krushna Chandra Patra.

According to the official release, the initiative aims to identify Odisha’s strengths, challenges, and opportunities in the biotechnology sector. It seeks to tap into the vast potential of biotechnology to significantly contribute to the state's economic growth through the creation of a robust bio-economy ecosystem.

The report will act as a strategic roadmap, ensuring Odisha’s bio-economic policies are aligned with national goals and global best practices. It is expected to provide critical insights for stakeholders, investors, and policymakers to guide future bio-industrial development in the state.

Officials added that the study could serve as a benchmark for emerging bio-industries, paving the way for research, innovation, and sustainable industrial practices in Odisha.

This MoU marks a pivotal moment for the state’s scientific and economic future, reinforcing Odisha’s vision to become a leader in bio-based innovation and industry.