Goa overhauls policies for investor-friendly industrial growth

08 Jan 2024 CW Team

In attendance at the meeting were State Industries Minister Mauvin Godinho and Goa Industries Development Corporation (GIDC) Chairman Aleixo Reginaldo Lourenco. Following the discussions, Sawant informed reporters that the policy amendments were designed to encourage more investment in the industrial sector, thereby boosting revenue and employment opportunities.

As part of the revamped approach, the government plans to simplify procedures for investors through a unified process for land allotment and industrial construction. Commercial plots will be made available to industries via a streamlined auction process. Additionally, the state government intends to grant industry status to logistics warehouses and information technology (IT) companies.

Further reforms include liberalising transfer and sublease processes as part of the "ease of business exit" policy. The government aims to provide incentives to women entrepreneurs, intellectual property holders, and startups.

Sawant also disclosed plans for the Invest Goa 2024 Summit, scheduled to take place in Panaji on January 29. GCCI President Srinivas Dempo commended the chief minister for his visionary leadership in implementing unprecedented reforms. Dempo, who is also part of the board of directors of the Goa Industries Development Corporation, expressed gratitude to the CM for involving industries in shaping these reforms, emphasising the need for both the government and industries to perform collaboratively.

Acknowledging certain challenges unique to Goa, such as its distinctive topography limiting large industries, Dempo stressed the necessity for increased investments, job creation, and revenue generation in the state.

The Goa government announced modifications to its policies aimed at streamlining processes for investors. The key initiative involves the implementation of a single-window clearance system for both land allotment and construction, with the goal of attracting industries to the state. Chief Minister Pramod Sawant conducted a meeting with prominent business organisations such as the Goa Chamber of Commerce and Industries (GCCI), Confederation of Indian Industries (CII), and Goa State Industries Association (GSIA). In attendance at the meeting were State Industries Minister Mauvin Godinho and Goa Industries Development Corporation (GIDC) Chairman Aleixo Reginaldo Lourenco. Following the discussions, Sawant informed reporters that the policy amendments were designed to encourage more investment in the industrial sector, thereby boosting revenue and employment opportunities. As part of the revamped approach, the government plans to simplify procedures for investors through a unified process for land allotment and industrial construction. Commercial plots will be made available to industries via a streamlined auction process. Additionally, the state government intends to grant industry status to logistics warehouses and information technology (IT) companies. Further reforms include liberalising transfer and sublease processes as part of the ease of business exit policy. The government aims to provide incentives to women entrepreneurs, intellectual property holders, and startups. Sawant also disclosed plans for the Invest Goa 2024 Summit, scheduled to take place in Panaji on January 29. GCCI President Srinivas Dempo commended the chief minister for his visionary leadership in implementing unprecedented reforms. Dempo, who is also part of the board of directors of the Goa Industries Development Corporation, expressed gratitude to the CM for involving industries in shaping these reforms, emphasising the need for both the government and industries to perform collaboratively. Acknowledging certain challenges unique to Goa, such as its distinctive topography limiting large industries, Dempo stressed the necessity for increased investments, job creation, and revenue generation in the state.