Revise laws, clarify approach to make Goa ideal business destination, says Goan industry

Twenty-six representatives from diverse sectors such as pharma, IT, finance, telecom, and mining converged to etch Goa's current state on 'Ease of Doing Business'.

The leaders shared their thoughts with Goan Chief Minister Pramod Sawant and representatives from the state's regulatory bodies.

Orgsed by the Goan chapter of the Indo-American Chamber of Commerce (IACC), the 'High-level Round Table Deliberation on the Ease of Doing Business in Goa' aimed at critiquing the current state of things.

"With this project, we aim to compile suggestions which can lead to a positive impact on the state of ease of doing business here", said Atul Pai Kane, Chairman and Managing Director at Power Engineering (India) Pvt Ltd.

"Apart from FDI, Goa has immense opportunity in enabling migration of businesses from other states. It does this by providing them with strategic advantages that they may not find elsewhere", he added.

Chief Minister Pramod Sawant, who had joined the discussions virtually, had listed the reforms his government had introduced to help new and existing businesses.

"We welcome diverse compes to come and set up their businesses here by providing them with a single-window clearance system, tax holidays and GST rebates," Sawant said.

The group also highlighted existing challenges on Goa's journey to become an ideal business destination. Despite best intentions, they felt the state needed to improve on the speed and efficiency of its existing processes for businesses. These included mechsms for clearances and regulations, along with a straightforward approach towards legalities.

"Time and delay are the enemies of opportunity," said Shardul S Shroff, Executive Chairman, Shardul Amarchand Mangaldas and Company, in context of hurdles for new and existing businesses.

"Goa has tremendous potential to become an ideal destination for new businesses. However, it needs to establish clear, thought leadership and supportive policies that could create a friendly, efficient, constructive and transparent environment. Only then can it foster innovation and excellence across industries, education and infrastructure," he added.

( With inputs from ANI )