Bhubaneswar, Odisha IT Minister Mukesh Mahaling said the state is steadily emerging as a key hub for fintech and insurtech, aligned with India’s broader digital and innovation-led growth agenda.
Odisha steadily emerging as key hub for FinTech, InsurTech: MinisterMahaling made the claim in an X post after attending the Black Swan Summit here on Thursday.
Memorandum of Understanding signed between Global Finance and Technology Network and Startup Policy Forum; and between Bharatnetra’s Corporate Champion and Odisha’s IT Department in the presence of the Minister. The conference will end on Friday.
“Together, these partnerships strengthen Odisha’s commitment to building a future-ready, innovation-driven digital economy with global connectivity,” he said.
Mahaling said the summit stands as a powerful platform where ideas transform into action unlocking new jobs, global opportunities, advanced technology and innovation, while strengthening global financial networks through collaboration and a shared vision.
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Talking to reporters, the minister said the partnership with fintech and insurtech companies aims to create an ecosystem in Odisha for skilling and employment of around 7,000 youth over the next five years.
Participating in the event, Chief Secretary Anu Garg said Odisha has emerged as a USD 112 billion economy. It has strong fundamentals with India’s best fiscal health record with 69 percent working population and two decades of fiscal surpluses.
Rich in minerals and rapidly diversifying beyond conventional industries into EVs, electronics and green energy, the state is focusing on value-added manufacturing, infrastructure expansion and ease of doing business, he said.
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“Odisha aims to create 10 million jobs by 2027, scale to an economy of USD 500 billion by 2036 and USD 1.5 trillion by 2047, while promoting urbanisation, disaster resilience, women’s participation and positioning itself as a global health and efficiency hub.”
Vishal Kumar Dev, Additional Chief Secretary, Department of Electronics and Information Technology, said that in the fintech sector, Odisha offers three key strength scales which include empowerment of women’s self-help groups through digital finance; A strong talent pipeline of engineers and data professionals; and a governance culture rooted in trust and policy stability.
With competitive costs, living standards and stable policies, the state is emerging as a global competence center and a destination for fintech innovation, Dev added.
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