Goa invites global investors

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MR ASHOK KUMAR: Goa is vibrant state that is popular among Indian and international tourists equally. As such, the state does not need any introduction. We will be utilising the platform of the Expo to showcase the investment potential of the State apart from showcasing the vibrant culture of Goa and the Startup ecosystem in the State.

Goa is participating in the ongoing World Expo 2020 Dubai from January 14 – 20, 2022. The state will showcase its rich heritage while exploring opportunities in key business sectors including the Agro and food industry; Knowledge based industry; IT, IT-enabled Services, EMCs and Startups — emc (electronic medicines compendium); Pharmaceutical and Biotechnology and Tourism and Film shooting. The Goa government is taking proactive steps for the continued development of the state. By introducing reforms and policies that are aligned with global goals as well as provide various incentives for those seeking to make investment in the state, the Government envisages Goa to be the preferred investment destination in India in the coming years.  Asian Lite speaks to Mr. J Ashok Kumar, IAS, Secretary to Chief Minister, Sports & Youth Affairs, Tourism, Industries Trade & Commerce, Handicrafts, Textiles & Coir, PPP Division.

Mr. J Ashok Kumar

ASIAN LITE. How do you plan to promote Goa at Dubai Expo 2020?

MR ASHOK KUMAR: Goa is vibrant state that is popular among Indian and international tourists equally. As such, the state does not need any introduction. We will be utilising the platform of the Expo to showcase the investment potential of the State apart from showcasing the vibrant culture of Goa and the Startup ecosystem in the State.

ASIAN LITE: Which are the key sectors Goa government will be promoting at the Dubai Expo 2020 for overseas investor and business groups?

MR ASHOK KUMAR:The state will be promoting its major focus sectors such as Agro& Food Processing, IT & Knowledge-based Industry, Pharmaceutical & Biotechnology, and niche Tourism such as luxury, hinterland and medical tourism.

ASIAN LITE: Would you be interested in investment for other sectors that are not in your preferred list of priorities?

MR ASHOK KUMAR: Goa is the smallest state in India. We have a rich and diverse natural heritage, and it is our responsibility to protect it from unchecked development. For this reason, the state is selective when it comes to what kind of investments it is seeking. We have a thorough review and evaluation process for this. As long as a proposal meets our criteria and helps the state grow without negatively impacting the environment, we are happy to welcome investors.

ASIAN LITE: What facilities and incentives the new Investment Policy of Goa offers to the global investors?

MR ASHOK KUMAR: The state is in the process of rewriting its investment policy. The new policy will be drafted keeping in mind the current times and investment trends. The policy will encourage investments in the focus sectors and offer various benefits and incentives. We want to create an environment of mutual support between the state and the business community, and the policy will reflect the same.

ASIAN LITE: What is the Government’s message to the Global Goan Diaspora?

MR ASHOK KUMAR: Goa is known as a warm and welcoming place and of course, what is better than welcoming the children of this land back to their home state to witness its development and become a part of it. We have various benefits for Goan diaspora looking to invest in the state, especially in the IT sector, where the state IT Policy and Startup Policy offer policy-level incentives to the Global Goan Diaspora. I want to invite the Goan community in the UAE to visit us at the Expo and engage with our delegation.

ASIAN LITE: India is targeting to become $5 trillion economy by 2025. What do you think will be the role of Goa in the overall scenario?

MR ASHOK KUMAR: Goa has historically been a leading contributor to the nation’s GDP despite its small size. With the current growth mindset and a thrust to diversify in sectors beyond traditional tourism, this contribution is only going to increase in the coming times. Goa is also becoming increasing popular among startups and some of the big businesses of future are currently taking roots in Goa.

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