Exit Scheme for sick units by GIDC

With a goal of unlocking around 12.75 sqm of land for new industries, the Goa Industrial Development Corporation (GIDC) has launched the Exit Support Scheme for 423 sick units at industrial estates across Goa.

Chief Minister Dr Pramod Sawant launched the GIDC’s Exit Support Scheme which aims to facilitate the exit of non-functional industrial undertakings across several industrial estates in the State.

Dr Sawant stated that there are currently 423 plots, which adds up to 12 lakh square metres area in the industrial estates as sick units, which can be transferred to new businesses who wish to set up shop in Goa. He further mentioned that the transfer and land allotment process will be simplified and all licences, renewals and infrastructure will be fast-tracked.

Dr Sawant said that the Exit Policy will help non-functional units become functional which in turn will generate employment opportunities.

The objective of the policy is to make it easy for industrialists to exit from industries which are non-functional and is a part of Ease of Doing Business (EODB).

A digital GPS survey of all industries has been done and it will now be easy for GIDC to know from its headquarters which plots are vacant in each industrial estate. E-auction of these plots has already begun.

Mauvin Godinho, Industries Minister, stated that the Exit Support Scheme is a crucial step towards revitalizing Goa’s industrial estates.

He further said that the initiative intends to facilitate the utilisation of land by prospective entrepreneurs, ensuring that it serves its intended purpose of fostering industrial growth and development in Goa.

Dr Sawant applauded Aleixo Reginaldo Lourenco, Chairman, GIDC for bringing back the corporation into profit from losses. “The IDC is in profit and now has excess funds to the tune of Rs 200 core,” he said.

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