The Indian Iris Government Policies | Government Schemes | Government of India | State Government
- The Government of Goa recognizes the need to kick-start investment in the Goan economy. The state has high potential due to efficient logistics, educated population, reliable, economical power supply, plentiful water resources and availability of social infrastructure.
- This policy aims to articulate the various initiatives being undertaken to make Goa a aspirational investment destination.
Objectives
- Creating 50,000 jobs in the upcoming years.
- Facilitating Rs. 25,000 crore of new investment into Goa in the next coming years.
- Providing high quality logistics infrastructure and 24*7 power supply to industries.
- Using innovative and socially acceptable mechanisms to make land available for industrial development.
- Setting up an Investment Promotion Board and bringing clarity to roles and responsibilities of Goa IDC, EDC, DITC¸GEDC, ITG and GTDC.
Thrust areas for greenfield investment (FDI)
In order to meet the policy objectives, the Government of Goa has identified certain thrust areas for greenfield investment
- Knowledge based industry, R&D centers and financial services
- Pharmaceuticals & biotechnology
- Integrated educational hubs
- Tourism
- Light engineering
- Aviation, aerospace and defense
- Information Technology (IT) Hardware and Electronics
- Agro-based and food processing industries.
Incentives across industry areas to encourage Investment:
‘Special Incentive’ for new investments and expansion of existing units
New units setting up in Goa in the thrust areas will be offered a ‘Special Incentive’ of 70%/50% (backward talukas/other talukas respectively) on their total investment in the form of VAT rebate, employment rebate and stamp duty rebate.
Training linked incentives
To encourage companies to train their prospective employees, various incentives are being introduced by Goan government.
Environment friendly incentives
- Water & energy audit.
- Water & energy conservation equipment.
“Incentives to encourage consumption of local raw material Scheme, 2008”
Entry tax waiver
Entry tax will be waived for a period of 5 years for all new units being set up in the thrust areas in the backward talukas and entry tax will continue to be waived for all MSME’s.
Interest rebate scheme
Innovation & productivity enhancement
Incentives for entrepreneurs
- Venture Capital Fund
- MSME incentives
- Incentives to agro based industries
- Incentives to encourage PPPs
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