Odisha govt inks MoU with IIM, Sambalpur to foster bio-economy

Bhubaneswar:  The Odisha government has assigned the Indian Institute of Management (IIM), Sambalpur, the task of preparing the state’s first bio-economy report.

The report will assess key strengths, challenges, and growth opportunities in the sector. As per an official statement of the Odisha government, biotechnology has tremendous potential to contribute to the state’s growth trajectory in the form of bio-economy, fostering all possibilities in this sector.

In this regard, a Memorandum of Understanding (MoU) was signed at Kharvel Bhawan here on Thursday between the Odisha Science & Technology Department and the Indian Institute of Management, Sambalpur, for the preparation of the report.

The MoU was signed between Additional Secretary of the Department Puja Mishra and Director of IIM Prof Mahadeo Jaiswal in the presence of Science & Technology Minister Krushna Chandra Patra and Principal Secretary, Chithra Arumugam.

The state government further stated that the comprehensive report being developed by the IIM Sambalpur will serve as a detailed strategic blueprint, offering policy recommendations, sectoral priorities, and actionable steps aimed at positioning Odisha as a frontrunner in India’s emerging bio-economy sector.

The report is expected to identify the state’s core strengths, address key challenges, and outline sustainable pathways for innovation, investment, and inclusive growth in this vital domain.

The state government hopes that this report will serve as a benchmark for future bioindustries.

“This report will provide a strategic roadmap, ensuring bioeconomic initiatives of the state align with national and global best practices while fostering a robust bioeconomy ecosystem. This report can be a benchmark for the future bioindustries to bring economic growth in general,” added the state government.

Among others, Additional Secretary of the Science & Technology Department Sibani Mohanty, Urmiprava Moharana, Bidyut Prava Rout, faculty of the IIM R.K. Padhi, and Sandip Mukhopadhaya were also present on the occasion.

–IANS