Fostering Investments, Job Creation and Revenue Generation: Invest Goa Summit 2024

The state renewed its commitment to fostering investments, job creation, and revenue generation at the Invest Goa 2024 summit. Notably, TVS Supply Chain Solutions Ltd from Bengaluru, a global leader in the sector, inked a memorandum of understanding (MoU) for a logistics park with a total investment of Rs 125 crore and the potential to generate 1,000 jobs. R Dinesh, the company chairman, affirmed dedication to fulfilling this commitment within two years. Dinesh emphasised Goa’s natural advantages in logistics and the sector’s significant opportunities, expressing eagerness to be the pioneering company in the region, providing a substantial boost to the government’s investment initiatives. Additionally, Goa’s Pai Kane group signed an MoU for an engineering equipment project in Tuem in Pernem taluka, reinforcing the momentum.

Piruz Khambatta, CMD of Rasna International Ltd, lent support to the government’s plan for investments in the food processing industry. Having scouted industrial estates in the state a day before the summit, Khambatta proposed a milkshake project based on Goan cashews, highlighting their potential global recognition akin to California almonds. The agreements were formalised with the Goa Investment Promotion and Facilitation Board (Goa-IPB).

The Invest Goa summit commenced with Chief Minister Pramod Sawant pledging to streamline processes, reduce bureaucratic hurdles, and create an investor-friendly environment. Sawant launched the new IPB website, the digital portal of the Goa-IDC, and honored entrepreneur Shashi Soni, chairperson of Hughes Precision, Verna. He expressed optimism that the summit’s discussions would chart a new trajectory for the Goan economy. Former Union minister Suresh Prabhu, present at the inaugural session, highlighted Goa’s unique selling points, citing the preference of top Indian business owners for the state. Prabhu suggested that Goa should identify industries that wish to preserve its uniqueness.

Investment proposals presented at the summit included a 200-room hotel project and a co-generational power plant announced by Shrinivas Dempo, Chairman of the Dempo Group of Companies. The Confederation of Indian Industry announced plans to establish the first-of-its-kind regional culinary institute.

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