PANAJI: In a bid to promote and encourage investment in the industrial sector, the State government today announced to increase the floor area ratio (FAR) across industrial estates.
The benefit will be also extended to the existing Industries.
Addressing the Invest Goa 2024 summit, Industries Minister Mauvin Godinho declared that the government has decided to increase the FAR in the industrial estate to give boost to the sector.
He said that State is looking for environmental friendly industries which will help in employment generation to our locals and also give boost to other ancillary economic activities.
The Minister also said that the Summit has also showcase sectoral session on ‘Logistics and Warehousing’ sector on the theme Unleashing strategic investments in Logistics and Warehousing for Sustainable Growth.
“Another sectoral session on the ‘IT/ITeS’ sector on the theme Tech Transformation: Navigating the Digital Future and a country session on the theme Global Synergy for Sustainable Prosperity: Collaborative Growth at Invest Goa 2024,” Godinho added.
Godinho also said that Invest Goa 2024 is a platform to showcase the state’s economic strengths and potential, attracting national and international investors.
“This leads to increased investment in various sectors, fuelling economic growth. Such events enhance Goa’s visibility on the national and global stage, positioning it as a prime destination for business and investment. It helps in building a positive image and reputation internationally.” he said.
He further stated that such events help diversify Goa’s economy by bringing in investments in new sectors such as renewable energy, logistics, and warehousing, among others.
“This would further lead to employment generation across various sectors, helping the local population, he noted.