Panaji: Goa-IPB Approves 10 Projects with INR 347.93 Crores Investment, Boosting Local Economy and Employment Opportunities, Chief Minister Dr. Pramod Sawant chaired The meeting
In its 33rd Board meeting held on May 17, 2023, Chief minister have addressed press conference & informed that the Goa Investment Promotion Board (IPB) granted approval to 10 projects, signaling a promising boost to the state’s economy. These projects, with a proposed investment of INR 347.93 Crores, are anticipated to generate employment opportunities for approximately 3495 individuals. Notably, all 10 projects are based in Goa, showcasing the region’s potential as a thriving business hub.
He also added that Among the approved projects, four units are dedicated to expanding the manufacturing capacity of existing establishments, while three entail new ventures proposed by established manufacturing companies in Goa. Additionally, a Goan start-up specializing in the manufacturing of ATV’s and UTV’s for the defense sector has received approval. Furthermore, a senior executive from a pharmaceutical company is venturing into the food testing laboratory business. The final project involves a well-known Goan hospitality brand, which already operates multiple units across Goa, investing in a new eco-tourism project.
This significant development not only underscores the vast business opportunities available in Goa but also reflects the efforts of the Government of Goa in fostering economic prosperity. In line with the Board’s directives, the Goa IPB office will ensure that these projects are fast-tracked, prioritizing the creation of employment opportunities for local Goans, he said
These approvals demonstrate the state’s commitment to promoting a conducive business environment while fostering sustainable growth and job creation. The diverse range of projects reflects the strength and resilience of Goa’s economy, paving the way for a prosperous future, he concluded
