Bhubaneswar – The Next Bengaluru of East India? | Future's Fastest Growing City

Summary

The video highlights Odisha’s remarkable economic growth, positioning it as one of India’s fastest-growing states, surpassing West Bengal in GDP growth rate. Bhubaneswar, historically a temple city, is set to transform into a future Tier-1 mega city by 2036, driven by IT and startup ecosystems, a semiconductor revolution, an aviation hub with MRO facilities, and a fintech innovation center. Strategic urbanization through the Quad City model and trade corridors with ASEAN nations will boost regional development. The integrated Odisha Vision 2036 aims to establish Bhubaneswar as a command center of growth, elevating the state into one of India’s top five economic powerhouses with balanced and inclusive progress.

Takeaways

• 😀 Odisha has experienced a GDP growth rate of 6–8% over the last decade, outperforming West Bengal's 4–5%, and ranks 5th in India for growth.
• 😀 Bhubaneswar is envisioned as a future mega city by 2036, expanding as a financial, aviation, IT, and startup hub along with satellite town development.
• 😀 Odisha's economy is balanced with roughly equal contributions from agriculture, manufacturing, and services (~33% each).
• 😀 The IT sector in Bhubaneswar is rapidly growing with over 300 firms, including Infosys, TCS, Wipro, and Tech Mahindra, generating Rs 3,300 crore in exports last year.
• 😀 Bhubaneswar is developing a semiconductor and electronics ecosystem with a Rs 4,000 crore Info Valley project and advanced chip manufacturing for EVs, AI, and defense.
• 😀 An aviation hub is being established with Paradip green airport, a second international airport in Puri, heliports, and an expanded Biju Patnaik International Airport, supporting both domestic and international connectivity.
• 😀 The city will become a fintech and digital innovation hub through IGFTCH, focusing on AI, blockchain, insuretech, digital banking, and financial inclusion.
• 😀 Quad City Masterstroke aims to develop four urban clusters (Coastal, Northern, Southern, and Eastern Quads) to achieve 40% urbanization by 2036 and promote balanced regional growth.
• 😀 Odisha is leveraging global partnerships, trade corridors, and investments (e.g., Make in India Odisha Conclave, ASEAN linkages) to boost industrial, IT, and financial growth.
• 😀 The overall goal is to transform Bhubaneswar from a Temple City into a Tier 1 city and economic powerhouse, positioning Odisha among India’s top five states by GDP contribution.

Q & A

Why is Odisha considered to have higher economic growth potential than West Bengal?

Odisha has experienced a GDP growth rate of 6–8% over the last 10 years, compared to West Bengal's 4–5%. Odisha ranks 5th among India’s fastest-growing states, while West Bengal is 30th, indicating higher growth potential.

What are the main sectors contributing to Odisha's GDP?

Odisha's economy is balanced with approximately equal contributions from agriculture, manufacturing, and services, each contributing around 33%.

How is Bhubaneswar emerging as an IT hub?

Bhubaneswar hosts over 300 IT companies, including Infosys, Wipro, TCS, and Tech Mahindra. IT exports reached ₹3,300 crore, and a 34-storey IT tower in Satya Nagar is being developed. The city also has incubators, VR/AR labs, AI, IoT, and machine learning startups, with a goal to become an IT hub like Hyderabad.

What is the significance of the semiconductor project in Bhubaneswar?

A ₹4,000 crore semiconductor project in Info Valley will manufacture silicon carbide integrated circuits used in EVs, AI, and defense, positioning Bhubaneswar as the semiconductor hub of East India.

How will Bhubaneswar develop as an aviation hub?

Bhubaneswar is developing a green airport at Paradip, a second international airport in Puri, and expanding Biju Patnaik International Airport with Terminal 3 (capacity: 86 lakh passengers/year). An MRO hub will service Airbus and Boeing aircraft, saving ₹500 crore annually and creating jobs.

What role will fintech play in Bhubaneswar's development?

Bhubaneswar will host India’s first Fintech Capability Hub (IGFTCH) to provide skills in fintech, insurtech, AI, and blockchain. This hub will create direct jobs, promote financial inclusion, and aim for 100% digital banking access by 2036.

What is the Quad City Masterstroke and its purpose?

The Quad City Masterstroke is a plan to develop Bhubaneswar, Cuttack, Puri, and Paradip as interconnected urban clusters. It includes Northern, Southern, and Eastern quads to create trade corridors, increase urbanization to 40%, and promote balanced regional development.

How is Odisha connecting with global and regional trade networks?

Bhubaneswar and Odisha are being linked with ASEAN countries and the Indo-Pacific region through the East Coast Economic Corridor, integrating industrial corridors like Vizag-Chennai for enhanced trade and investment opportunities.

What steps are being taken to ensure inclusive growth in Odisha?

Inclusive growth will be promoted through fintech apps enabling self-help groups, farmer credit, and tribal banking, along with skill development programs in coding, robotics, chip design, and AI for millions of students.

What is the long-term vision for Bhubaneswar by 2036?

By 2036, Bhubaneswar aims to transition from a tier-two temple city to a tier-one mega city, becoming a command center for Odisha's Vision 2036, integrating IT, semiconductors, aviation, fintech, urbanization, and global connectivity to emerge as one of India’s major economic hubs.

How does Bhubaneswar compare with other Indian cities in terms of growth potential?

Bhubaneswar is projected to stand shoulder to shoulder with Delhi, Mumbai, Hyderabad, and Bangalore as a future mega city due to its strategic investments in IT, semiconductors, aviation, fintech, and urban development.