Odisha’s critical minerals market may rise to USD 18-20 billion by 2032

Odisha’s critical minerals sector may expand significantly over the next seven years, with its value expected to rise from USD 8 billion in 2025 to USD 18–20 billion by 2032, according to a study by the Net Zero Energy Transition Association (NETRA).

The projections, released during the Global Cleantech Expo-Odisha 2026, indicate a major transformation in the state’s mining, processing and manufacturing landscape. 

While the sector’s current profile in 2025 stands at 40 per cent mining, 10 per cent processing and 5 per cent manufacturing, these shares are expected to increase to 50 per cent, 40 per cent and 30 per cent, respectively, by 2032. 

The shift is attributed to targeted policy measures and industrial investments, PTI reported.

The two-day Global Cleantech Expo-Odisha 2026 was held in Bhubaneswar on February 20–21 and was inaugurated by state MSME Minister Gokulananda Mallik. 

The event brought together more than 75 exhibitors representing the clean technology sector, including Luminous, GMR, AMAZE, Havells, MGM Green Energy, ICON Solar, Trontek, NED Energy, Navitas, Novasys, PV Blink and World Green Energy, among others.

Senior government officials and industry leaders attended the expo, underscoring Odisha’s emergence as a key destination for cleantech investments.

Debi Prasad Dash, Executive Director of NETRA, said Odisha’s rise as a preferred hub for critical minerals and cleantech investment reflects its forward-looking vision and supportive policy framework. 

According to PTI, Dash noted that with reserves of more than 30 critical minerals, the state is well positioned to play a central role in India’s clean energy transition.

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Recent discoveries, including lithium in Nayagarh as well as graphite, vanadium and cobalt deposits, have further strengthened the state’s prospects. Odisha is also advancing efforts to develop resilient supply chains and enhance value addition.

Key initiatives such as the Rare Earth Corridor in Ganjam and the introduction of a dedicated auction calendar for critical mineral blocks are expected to reinforce Odisha’s position as a national centre for solar, battery and electric vehicle manufacturing.