Under the BJP-led government for the financial year 2014-15, the high powered co-ordination committee (HPCC) on industries has approved 16 large scale units with total investment of Rs 1670.45 crore and employment potential of 3,951.
“Industrial activity in Goa received a boost in the early years up to 2002, due to the special income tax status given by Central government and the sales tax holiday by the State government,” the report reads. “However, in the past few years, industrial growth has not been very impressive due to economic slowdown and lack of robust framework for industrial development.”
At present, there are total 485 micro, small and medium enterprising units with total investment of Rs 14,203 crore with employment generation of 6,609.
Feeling the need to kick-start investment in the economy, Goa Investment Policy has been approved by the government which seeks among other things to create 50,000 jobs and facilitate Rs 25,000 crore of new investments in the next five years.
