He was of course referring to the rollercoaster ride that trade and industry faced in the last 14 months, which has had more of heart-stopping plunges than any recovery to the top. No business can claim that it has returned to the peak of the pre-pandemic period. Any ascents that came were tediously uphill climbs that quickly went downhill again. The question is how has the government supported commerce and industry?
Here is the crux. In April last year industry presented a detailed report to the government on kick-starting industry revival. It was the Economic Revival Committee that had been constituted by the government in the wake of the lockdown of last year that presented this report. Caculo lamented that more than a year later, there was hardly any progress by the government on implementing the Committee’s suggestions. In the intervening period, Goa has had another lockdown – official described as a curfew – that has again affected business and industry. This curfew that started in May continues with relaxations, but a number of businesses have still not been permitted to open up.
The new president of the Goa Chamber of Commerce and Industry, Ralph D’Souza, takes charge at a crucial time. His long experience in industry will come handy, and pragmatic as he is, the new president of the chamber is under no illusions that the worst is over and candidly admitted that he was convinced that hard times still lie ahead as the effects of the pandemic would be long lasting. The good news here is that the chamber is willing to assume a leadership role in bringing back on track the State economy. Is the government listening and ready to partner with commerce and industry to achieve this economic revival?
A partnership between government and commerce and industry would definitely be advisable at the current time, as it would bring in some expert planning and sharing of ideas that could be profitable to both. Industry and trade bodies have been regularly intervening and putting forth their demands to the government. During the ongoing pandemic, a report by credit rating agency India Ratings and Research (Ind-Ra) said that Goa is likely to face the steepest contraction in its economy. This isn’t surprising as the State’s economy is propped up by tourism and manufacturing, both of which slid downward during the pandemic, while mining, the other pillar of the economy, has had its operations shut since March 2018. It is against this background that the government has to work to reviving the economy. The Confederation of India Industries in a white paper on the State’s economic scenario has suggested urgent need for economic re-imagination, pointing out that tourism and mining are at a standstill and new industrial investment is slowing.
Here’s what industry has been perennially looking forward to – a conducive policy and a responsive administrative framework to attract fresh investments which would help in creation of good employment opportunities and revenue generation. In the post pandemic restructuring that will take place – it should actually already have started – this demand of trade and industry becomes more important. What the chamber is asking is not a complete transformation of the system, nor is it something that has not been broached in the past. It is seeking something that would be essential for the recovery of the State’s economy. If the government cannot provide the minimum cooperation to trade and industry, Goa’s economic slide will only hasten.
