Goa should be showcased as intl investment destination for new-age industry: Srinivas Dempo Panajia

The 'Invest Goa 2024 Summit' is a collaborative effort between the Goa Industrial Development Corporation (Goa-IDC) and the Confederation of Indian Industry (CII), serving as the National Partner.

Goa should be displayed as intl investment destination for new-age industry, image credit: Reuters

Goa should be showcased as an international investment destination for the new-age industry including warehousing, logistic, IT and others, renowned industrialist and President of Goa Chamber of Commerce and Industry Srinivas Dempo has said.

Talking to PTI ahead of the Invest Goa 2024 summit scheduled to be held on January 29 in Panaji, Dempo said the new-age industry offers huge opportunities for the youth of the state.

The 'Invest Goa 2024 Summit' is a collaborative effort between the Goa Industrial Development Corporation (Goa-IDC) and the Confederation of Indian Industry (CII), serving as the National Partner. Dempo said that Goa cannot attract very heavy industry as "there is a lot of opposition regarding polluting industries."

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"I think it is the need of the hour that through IDC, Goa is showcased as an international investment destination for the new-age industry."

We can talk about warehousing, logistics, we can talk about IT industry, ITES, medical devices, electronic industry where the land size required is not very large," he commented.

Dempo said that the Goa Chamber of Commerce and Industry (GCCI) welcomes the Invest Goa 2024 event as this is a great opportunity for industrialists to come together, network and see what the state is offering, and also deliberate with the different stakeholders within the state.

"The Goa IDC has with the recent changes in the rules and regulations that they have made, they have made a determined effort and focus to attract investment in the new age industries," he commented.

On skilled manpower, Dempo said that it is the responsibility of not only industry but also of the educational institutes.

Dempo said he would appeal to local industrialists to participate in the summit and invest in the new-age industries.

"What has happened is that there are Goan industrialists who have gone into mining in other states, we have gone into shipbuilding in Gujarat because of the local business opportunities that are available.

"Goa being a small state has limitations, that is why we say the focus should be on new-age industry and service industry which would be ideally suited to Goa to have a catalytic effect on its GDP," he added.

He said that the new rules of Goa IDC have focussed on the industrial plots which are occupied by sick industries.

"If industry has turned sick, what the new IDC rule has done is to give him an opportunity to revive the unit or he could do some other activity within the plot or he can gain friendly incentive to part with that plot," Dempo said.

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