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Industrial Policy Of Goa |
With a well-spread network of banking and financial institutions, the State is in an ideal position to attract investments. In fact, Goa has one of the best deposit to credit ratios, which means that there is ample money with the institutions to advance for economic development. The per capita deposit is around Rs.70,915/- per annum, whereas the per capita income at current prices is around Rs. 61,301/- per annum.
Goa is the only State in the country which possesses the distinction of achieving high level of both economic and social development. Average economic growth of 10% per annum, the highest per capita income (Rs.61,301/- per annum) and high level of Social Infrastructure Indicators are the testimony for the same. Thus, the State has extremely favourable climate to aim to become a “Model State”.
Goa is strategically located with good infrastructure facilities with a centrally located airport, a seaport, connectivity by excellent road network as also other essential infrastructure like Container Freight Station etc. The State boasts of one of the country’s highest tele- densities. Fibre optic connectivity too has spread its network across the State, bringing state of art telecommunication to the people. Every village in the State is electrified. As regards power for the industry, there is sufficient power reserve and the tariff has been pegged at very reasonable rates.
Goa is proud of its excellent law and order situation with low crime rate. The social and communal harmony that is vital for industrial growth is the hallmark of Goan society. Further the industrial relations in Goa are perhaps one of the best in the country.
Despite these impressive figures, the fact cannot be denied that industrial development over the last decade at least, while not insignificant, has been lopsided. Certain parts of Goa have developed well, while so many others remain backward. The fruits of industrial growth too have in the process remained limited to a few regions and sections of the population.
Further, the State failed to fully capitalize on its strengths to the extent that it should and could have. The absence of a focused approach and a lack of direction coupled with ineffective implementation took a heavy toll. The problem of lack of adequate and meaningful employment opportunities to the local youth and the confusion over the sort of industrial growth that would best suit the State, are some of the fallouts of such a haphazard and directionless approach to crucial issues.
This policy document draws on the strengths of the State and seeks to provide for the first time a clear and unambiguous direction for industrial growth. It takes into account the practical realities, the needs of today and those of the future. It is a document for the promotion of sustained, environment-friendly industrial growth.
Equally important, the policy attempts to set out with utmost clarity a vision of industrial prosperity that is not at odds with the ethos and temperament of the people of the State.
The role of the private sector is also very important in economic development of our State. There is a need to make our industry globally competitive in this era of severe competition, economic depression and interdependence. Therefore, Government & Industry Partnership in a ‘Trust Based System’ has also been envisaged.
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