Tuesday 16 Apr 2024

New Industrial Policy eyes creation of 30,000 jobs



The State government has notified a new Goa Industrial Growth and Investment Promotion Policy with a focus on growth and special emphasis on providing crutches to troubled sections of existing industry.

The policy also aims at targeting an investment inflow of about Rs 20,000 crore over five years with a job creation potential of 30,000.

Admitting to an economic slowdown and laggard years in GSDP growth between 2015-16 and 2020-21, the policy acknowledges the need to kick-start investments in Goa by creating an environment of trust and collaboration between the State and industry with transparency.

"Creating transparent, predictable and seamless governance structures, improving the business ecosystem and providing Ease of Doing Business besides skill development and employment for local population are some of the stated ideals the policy says the State will strive to achieve.

Ecotourism, adventure tourism, entertainment, food processing, education and R&D, and other white and green category industries are the stated thrust sectors besides Information Technology (IT) and ITeS.

Tourism hubs including oceanariums, theme parks, shopping malls, food & beverage outlets, entertainment centres, handicraft centres, film city and studios, convention centres, co-working spaces, plug-and-play fairgrounds and event centres are listed as some of the preferred investments in the tourism sector.

"The government may provide facilitation, handholding and fast-track clearances to expedite such projects and those promoting niche tourism," the policy said, adding that eco-resorts, plantations and farm-stays, high-end water sports and adventure sports, marinas at designated locations and hinterland river cruise tourism will also be encouraged.

The policy also focuses on the government playing a role to leverage central government schemes such as those for promotion of ODOP (One District One Product), PMFME (PM Formalisation of Micro Food Processing Enterprises), MSE-CDP (Micro and Small Enterprises Cluster Development Programme), SFURTI (Scheme of Fund for Regeneration of Traditional Industries).

Meanwhile, prohibited sectors as per the FDI policy of the Centre, projects in restricted areas of Goa Regional Plan 2021 such as khazan lands, low-lying paddy fields, sloppy lands, land falling under Coastal Regulatory Zone, areas prohibited under the Environment Management Plan and other restricted areas as per other State rules and regulation will be no go areas, the policy said.

Red category industries deemed detrimental to the environmental and sustainability goals of the State may be notified in a list, it said.

The Goa Investment Promotion and Facilitation Board (IPB) will be the fulcrum of the government's licencing mechanism with a single-window and with end-to-end facilitation approach for all types and sizes of investments.

For land allotment, the policy proposes simplification of the process by routing it through IPB under its single window clearance mechanism. For investors seeking to start operations on private land also, IPB will be the agency to route change in zoning, sanad conversion will also be routed through the IPB, it states.

For mega projects with investment upwards of Rs 100 crore and employment generation of more than 1,000 the IPB may identify and recommend land parcels from the land bank of the GIDC for allotment.

The policy also entrusts the IPB with the task of formulating an 'exit policy' for businesses wishing to shut down operations.

For business in financial and operational trouble, incentives as in those provided to sick units is also part of the policy.

The policy, meanwhile reduces the role of the GIDC to one of a land broker and service provider, restricted to identifying and acquiring land for development of new industrial estates.

The policy devotes a special chapter to Logistics, noting it to be a key contributor to development of industry. 

"The Government will undertake well-planned and integrated approach to further strengthen and link air, road and sea communication channels," the policy said, adding that a dedicated logistics policy will be formulated with a key focus on regulatory framework, enabling infrastructure, skill development and incentives. 

Logistics hubs, cold chain logistics, container freight station (CFS), ports & waterways are some ideas floated by the policy to give the logistics sector a boost.

It also lists special incentive package and waivers for revival of closed or sick units.

Share this