In the presence of Principal Secretary Chithra Arumugam and Science & Technology Minister Krushna Chandra Patra, Additional Secretary Puja Mishra and IIM Sambalpur Director Prof. Mahadeo Jaiswal signed the agreement.

The scheme aims at reviewing Odisha's fundamental biotechnology strengths, challenges and opportunities for growth besides offering a strategic guideline for planning the state's bioeconomic operations harmonised with national and global best practices.

Biotechnology holds vast promise to drive Odisha's growth path, said Minister Patra. This report will be the reference point for upcoming bioindustries, driving sustainable economic growth and innovation. The partnership is expected to drive progress in healthcare, agriculture and renewable energy among others, making Odisha a front-runner in India's bioeconomy story.

The Bio-Economy report will underline the scope for investment, innovation and employment generation and highlight challenges like infrastructure shortfall and skill development. The state is also expected to create a framework leveraging IIM Sambalpur's knowledge to attract bioindustries and promote sustainable production.

Additional Secretary Sibani Mohanty, Urmiprava Moharana, Bidyut Prava Rout and IIM members R.K. Padhi and Sandip Mukhopadhaya were present at the signing ceremony. The ceremony highlighted Odisha's focus on integrating cutting-edge research with policymaking for economic development.

The partnership marks a new era of Odisha's bio-economy which can turn the state into a hub for biotechnology innovation and sustainable growth.