Goa CM Pramod Sawant while addressing an event recently invited plastic manufacturers to set up their plants in the State. Notably, this comes on the heels of Industries Minister Mauvin Godinho announcing his intent to bring green industries, factories with a low carbon footprint, to Goa.
This clearly represents a contradiction in the type of industries the State government aims to attract. A lack of vision in the industrial policy will lead to a sub-optimal growth in a sector that Goa has struggled with.
In a world where manufacturing hubs like Tamil Nadu exist, the State government will benefit from promoting Goa as a hub for eco-friendly industries instead of inviting factory owners from random and resource and capital intensive sectors. Bamboo and its products is a fast growing sector the state can bet on.
Focusing on niche green industries will give an opportunity for vertical integration, which leads to an increase in profits. Singapore provides good examples of vertical integration in various sectors which can serve as a valuable reference.
