GOA INDUSTRIAL DEVELOPMENT CORPORATION (GOA-IDC)
One of the
main steps taken by the Government was setting up Goa, Daman & Diu
Industrial Development Corporation (GOA-IDC) in the Year 1966 with the
objective of securing and assisting the setting up of industries in Goa.
With the setting up of this Corporation, the industrial activities started
picking up. The GOA-IDC is doing this job with a fair degree
of success since the last 34 years. In fact, there has been
manifold increase of its operations and is today, the ‘Nodal Agency’ as
far as industrialisation of Goa is concerned. Shri J.B. Singh is
currently the Managing Director of GOA-IDC whose brief profile is as under
Before the Liberalisation, Goa’s economy was mainly based on agriculture and to a large extent on the mining industry. Industrial activity in Goa was basically an offshot of mining industry. Iron ore mining in Goa was solely export oriented catering to the post world war industrial activities in countries like Japan and Western Europe. Development in mining industry in Goa gave rise in a small way to Industrial Activity in supporting areas of infrastructure, servicing and job works of mining equipments, vehicles etc. However, after Goa’s Liberalisation due to various steps taken by the Government, the Industrial Scenario has undergone a vast change.
One of the important activities of this agency has been to identify land for setting up Industrial Estates keeping in mind the concept of balanced industrial development in various parts of the State without disturbing the fragile ecology of Goa. The areas have to be within the industrial zones as per the regional plan prepared by the Town & Country Planning Department. The other aspects that are kept in mind while selecting the land are availability of transport, water, power supply, urban infrastructure, communication facilities and reasonable cost. After identifying the land, the site plan indicating the survey nos, plot nos. etc. is prepared. At the time of preparation of the layout, care is taken to see that ecological features and tourism development plans in the State are not disturbed. Goa has a tremendous tourism potential. Care is also taken to keep adequate land for open space and green area. Further some area is reserved for common industrial facilities as well. So far Goa Industrial Development Corporation has established 18 Industrial Estates in various Talukas of Goa. The total units established in the estates are over 1600 generating an employment to around 30,000 people. The units ranging from tiny to large scale manufacture a diverse range of products from food processing to modern sophisticated computer peripherals, defence and telecommunication equipments.
At present, GOA-IDC has a programme of expansion of Industrial Estates as well as establishment of new Industrial Estates to meet the demand of the industry to set up their projects in Goa. In order to cope up with the pace of industrialization in Goa, a Special Land Acquisition Cell has been set up to gear up the land acquisition proceedings.
Verna Electronic City which is attracting a large number of units in thrust areas like electronics, plastics and pharmaceuticals is emerging as a nucleus of the frenetic industrial activity taking place in the State followed by other prominent Industrial Estates. This progress has been possible due to the various planned steps taken by the Government of Goa and persistent efforts of its various institutions and agencies like the Directorate of Industries, the Economic Development Corporation of Goa, Daman & Diu Ltd., Goa Industrial Development Corporation and other agencies. Mention must also be made of the commendable efforts put in by institutions like MSFC, IDBI, NSIC, SIDBI, IFCI and SISI which have established their branch offices in Goa. Also various nationalised and co-operative banks have played their vital role in providing credit to entrepreneurs through the vast network of their branches spread all over Goa.
The new liberalisation process started by Government of India a few years back has given a big boost to the industrialisation of Goa. The main reforms made in the new industrial policy like abolition of industrial licences, has helped in the liberalisation process. The new package of incentives available for industrial units being set up in Goa are :
a) Capital Investment Subsidy :
25% Capital Investment Subsidy is available to the industries having investment of upto Rs.60.00 lakhs.
b) Income Tax concessions :
Goa has been categorised as Backward State specified in Eighth Schedule as per the Finance Act, 2000 and hence the industrial units established in this State are entitled for Tax Holiday as per Section 80-IB(4) of the Income Tax act for the period upto 31.03.2002.
c) Reduction in Stamp Duty :
The Government is remitting 50% of the stamp duty payable under the Stamp Act, 1899 in respect of bonds or mortgage deeds executed in favour of EDC, MSFC, Scheduled Commercial Banks. This facility is available to SSI units for executing legal documents in respect of loans granted by Government as well as the hire purchase agreements, lease deed documents in respect of allotment of sheds and plots by GOA-IDC.
d) Subsidy for Feasibility Study :
Economic Development Corporation is a Government Agency to disburse 50% subsidy towards preparation of feasibility study of the projects. Subsidy is offered to the extent of 50% in respect of the cost of preparation for feasibility studies.
e) Price perference :
Price preference of 15% on the purchase made by the Government Departments is available to the registered Small Scale Units with effect from 8th June, 1970.
f) Sales Tax & Central Sales Tax exemption Facility :
i) Sales Tax Benefit Scheme has been made available and it has been decided to grant sales tax exemption facility to large and medium scale units for a period of 5 years and to small scale units for a period of 10 years from the date of first sale if such units go in production and effect first sale of goods manufactured / processed or assembled by it on or before 31.03.2002.
ii) The Sales Tax exemption is available upto the final point i.e. actual consumer to whom it is sold in Goa (Subject to issue XIA/XIB by a Registered Dealer).
iii) Certain highly polluting industries are not eligible for Sales Tax Exemption, unless the Government specifically exempts them.
Apart from the liberal incentives mentioned above, Goa happens to be an ideal industrial locale taking into account the infrastructural and communication facilities available in the State. It is bestowed with the all weather natual harbour at Marmagoa, complimented ably by the internal water transport network formed by the grid of navigable rivers. Goa is the second State in the country to achieve 100% automatic telephone system and it is connected to the STD/ISD network. Skilled and disciplined labour required for the industries is available in the State as it has educational facilities in all the fields like engineering, commerce, medicine, management, technical training etc. Apart from well planned industrial estates of GOA-IDC other large industrial locations are also available to the industries.
Infrastructural facilities :
Over the years with the advent of industrialisation in the State, GOA-IDC has paid special attention to the infrastructure at the Industrial Estates. Telecommunication is one of the main facility for the growth of industry. STD with FAX facility have been made available in all Industrial Estates.
other facilities like road, water supply, power supply, post office, creche
facility, bank, police outpost, canteen, transport agencies, dispensaries
are available in the Industrial Estates. The State Government
is in the process of finalising the private sector mini power projects
to augment the power supply. Taking the need of the industries
into consideration, the power projects are planned in the vicinity of the
major industrial estates.