Dr. Pramod Sawant Chairs 38th Goa Investment Promotion Board Meeting; Approves ₹733 Crore Investment Proposals
Panjim, Goa – Chief Minister Dr. Pramod Sawant today chaired the 38th Board Meeting of the Goa Investment Promotion Board (IPB) at Mahalaxmi, Altinho, Panjim. The meeting was attended by Industries and Panchayat Minister Shri Mauvin Godinho, MLA and GIDC Chairman Shri Aleixo Reginaldo, Industrialist and GCCI Chairman Shri Shrinivas Dempo, along with other board members.
During the meeting, the Board approved nine new projects with a total investment potential of ₹733 crores, which is expected to generate employment for 2,319 individuals. The approved projects span various industries, including pharmaceutical manufacturing, warehousing, machine tools manufacturing, and beverage production.
A significant milestone was achieved as the Government of Goa granted industry status to the logistics sector. Under this initiative, M/s Express Machines and Scaffolding Pvt. Ltd. received approval to establish a large warehousing facility in the state.
Among the approved projects, multinational corporations Procter & Gamble (through their subsidiary Gillette Diversified Operations Pvt. Ltd.) and Zydus Lifesciences Ltd. have chosen Goa as their preferred manufacturing hub over several other international locations. This reinforces the state’s growing reputation as an attractive destination for global investments.
Additionally, an eco-tourism project in the Quepem region, initially approved by the Board and now branded under Indian Hotels Corporation Ltd., was granted expansion approval. This underscores Goa’s dual appeal as both an industrial and tourism-friendly state.
The meeting also included discussions on restructuring the organizational framework of Goa IPB, the creation of a Goa IPB Land Bank, and other critical issues. Dr. Sawant emphasized that Goans should be given preference in job opportunities within the state.
The continued inflow of investment proposals highlights Goa’s improving Ease of Doing Business, and the government remains committed to further strengthening this environment in alignment with the vision of Viksit Goa.
