Goa shifts its focus from tourism to logistics and warehousing, eyeing a major role in India’s industrial landscape.
Goa, renowned for its vibrant tourism sector, is now directing its attention towards capturing a slice of India’s burgeoning logistics and warehousing demand. During the Goa Investor Summit 2024 held in Panaji on January 29, Chief Minister Pramod Sawant and Industry Minister Mauvin Godinho advocated for increased investments in industrial activities within the state.
Addressing the summit, which attracted participation from local businesses and both domestic and international investors, Sawant highlighted Goa’s potential to capitalise on the robust growth observed in the Indian economy. He emphasised the state’s success story, attributing it to the support received from both central and state governments. Sawant affirmed, “We will remain a preferred destination for global investors across all sectors.”
The summit marked the introduction of a new state government portal streamlining compliance approvals for businesses. Additionally, it witnessed the launch of the Goa Investment Development Corporation Regulations 2023 Manual and the Goa Investment Promotion Board website.
With an evident shift in focus, the Goa government aims to establish a logistics and warehousing hub, identifying it as a significant opportunity. Following the launch of a dedicated policy for the sector last year, TVS Industrial and Logistics Parks made the first major investment announcement at the summit. The company signed a memorandum of understanding with the Goa government to establish operations in the upcoming logistics park, signaling the state’s commitment to fostering industrial growth.