~ Goa CM appreciates incentive-scheme, focus on services for better 'Ease of Doing Business' in State ~

Goa - "The coordination with industry leaders has renewed our resolve to fast-track Goa's economic development by removing hurdles for business growth", said CM Dr. Pramod Sawant from his Altinho residence on Friday, February 19, 2021. "Their recommendations and ideas will surely help us craft our immediate and long-term approach in ease of doing business", he added.

The Hon'ble Chief Minister thanked Indo-American Chamber of Commerce (IACC) and Shardul Amarchand Mangaldas & Co ('SAM & CO'), during the presentation of the White Paper setting out ideas to improve the government's approach towards 'Ease of Doing Business' in the State.

Representatives from IACC and SAM & CO shared a white paper on 'Goa and the Ease of Doing Business', which included key recommendations from a round table discussion held last month. This deliberation had included 26 business leaders from Goa and from diverse sectors like pharma, IT, finance, telecom and mining.

"While Goa's ecosystem can sustain industrial development at all levels, the state needs to give them an extra push with business-friendly reforms. These reforms would lay a roadmap to make Goa a hub for investment. This White Paper is an attempt to catalogue our recommendations for these reforms in one place", said Saurabh Shah, 1st Vice President, IACC (West) and Chairman, Ease of Doing Business Committee.

The White Paper includes recommendations on digitisation, e-processing, infrastructure and utility development, transparency and accountability. As a path to Goa's growth story, it recommended a push to the services sector, food processing, medical tourism and value-added service industries.

"Goa holds a unique position in Bharat, owing to its demographic size, location and natural resources. These factors make it an attractive destination for specialised industries, services and educational activities. The implementation of a holistic and targeted regulatory framework will enable the State to unlock its vast, untapped potential", said Radhika M. Dudhat, Partner, Shardul Amarchand Mangaldas & Co.

Shardul Amarchand Mangaldas & Co is the Knowledge Partner in this initiative and have collaborated with IACC to make the White Paper a reality.

At the heart of the recommendations lie an appeal to craft a specific incentive program which would foster an ecosystem that cradles development for small, micro and medium-level industries. CARE (Constructive, Adaptive, Robust and Efficient), this incentive approach, would bundle all necessary reforms to improve ease of doing business in Goa. Such a thriving business and industrial ecosystem would integrate, harness, protect and enhance the state's social and environmental strengths.

Highlighting this incentivised approach, CM Dr Sawant said, "We are welcoming diverse companies to Goa by providing them with a single-window clearance system and GST rebates".

It also highlighted the need to improve the state's electrical capabilities and reduce power cuts by promoting renewable energy sources like biogas, solar power and wind energy.

Thanking the IACC and SAM & CO for their exhaustive efforts in drafting this White Paper, the Chief Minister has promised to consider their recommendations in Goa's future business plans.