Friday 27 November 2020

News Analysed, Opinions Expressed

Economy | Industry

Goa heading for capital-intensive industry

 

In the absence of proper industrial policy, Goa is heading for capital intensive industry which is found to have been having absolute mismatch with the manpower availability in the industrially backward tourist state.

"We will soon come out with a concrete industrial policy", says industries minister Alexio Sequeira, the same record played by all his predecessors in not less than 11 different governments the state witnessed in a record time of 10 years.

The draft industrial policy prepared by Sequeira's predecessor has been put on hold in the similar manner like his predecessor had done it in case of his predecessor and so on. The 'revenge politics' however has been severely affecting the directionless industrial development of the state.

This is for the third five-year term the income tax holiday has been extended to Goa, but very few have come forward to avail the facility as power shortage and other infrastructural hurdles have compelled many firms to withdraw from the scene at last minute.

In order to attract more industries in the state, the seven-month old Francisco Sardinha government has even reversed the decision to withdraw the sales tax holiday, which is prevalent in the state from 1972.

Industries minister Sequeira informed the ongoing Assembly that seven large industries have approached the government to start business in Goa, with a total investment of above Rs 21 crore, while creating less than 400 jobs.

Prominent among them having sizeable employment potential are Lakme Lever Ltd, coming up in Kundaim with nail enamel production and offering 126 jobs as well as Hindustan Lever Ltd in the same area to manufacture cosmetics and toiletries with the employment potential of 150. The total investment of both is around Rs six crore.

Contrary to this is the unit of Binani Industries Ltd, proposing to manufacture moulded glass fibre products. The investment here is almost Rs 4.40 crore but offering jobs to not more than six persons.

Similar is the proposed pharmaceutical unit of FDC Ltd with an investment of Rs 4.47 crore but only 29 jobs, Indian Oil Corporation's LPG filling plant of worth Rs 2.30 crore with 17 jobs, CG-PPI Adhesive Products Ltd offering only 35 jobs while investing Rs 2.76 crore and carbon dioxide unit by Sicgil India Ltd worth Rs 1.93 crore with employment for only 25 persons.

The official figures indicate that Goa till date has 6047 industrial units, including small and large ones, with the investment of Rs 1941 crore and employment generation of 60,608. But above 40,000 among them are being offered by 5905 small industries with an investment of mere Rs 239 crore.

On the other hand, the live register of the employment exchange shows a figure of above one lakh unemployed, including around 14,000 graduates and post-graduates and above 32,000 undergraduates.

Though Goa has no concrete industrial policy, almost all the governments have repeatedly pronounced that it would bring non-pollutant healthy industries to the state which would offer employment opportunities to the educated unemployed of the state. But what happens actually is contrary to these public assurances.


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