A“WORLD MEDIA NETWOK” PRESENTS FDI IN INDIA & SCOPE
FOREIGN DIRECT INVESTMENT (FDI) IN GOA
Introduction
Goa is a state in western India with coastlines stretching along the Arabian Sea. Its long history as a Portuguese colony prior to 1961 is evident in its preserved 17th-century churches and the area’s tropical spice plantations. Goa is also known for its beaches, ranging from popular stretches at Baga and Palolem to those in laid-back fishing villages such as Agonda. Population 18.2lacs.
Map
Districts List of GOA
GOA is divided in 2 Districts i.e NORTH Goa &South Goa.
GOA Industries
Key Industries
- Tourism, food processing, IT & ITeS, mining, biotechnology, pharmaceuticals and fishing
- Recent Developments: A second greenfield international airport is being developed in Mopa, Goa with an annual capacity to handle 30 million passengers by phase IV. The first phase of the airport is expected to start by September 2020.
- A new export policy for the state is also being prepared to promote exports for manufactured goods and surplus agriculture produce.
- Merchandise exports from the state reached US$ 2.06 billion in FY19.
- As of February 2020, Goa had seven formally approved and three notified special economic zones (SEZs).
- Union Ministry of Home Affairs (MHA) has identified five islands in Goa, namely St George Island, Grande Island, Pequeno Island, Conco Island and Bhindo Island to carry out holistic development.
- Key Sectors:-Goa currently has a total of 38 operational mining leases with a reported production of 6.08 million tonnes in 2018-19. Export of iron ore from the state reached US$ 32.19 million in FY20 (till February 2020). Total iron ore traffic handled at Mormugoa Port; Goa was 1.71 million tonnes (MT) in FY20.
- The state is in the process of developing the logistics sector in Goa by forming a special logistics group and constructing several bridges to address the existing deficiencies regarding logistics and warehousing.
- Till December 2018, the state received 8.01 million tourists. 28 cruise ships with 38,543 passengers arrived in the state during this period.
- Goa has a coastline of about 104 kms and inland waterways of about 250 kms. The coast is full of creeks and estuaries formed by rivers. 72.09 thousand tonnes of marine fish were harvested in 2019. Export of marine products from Goa reached US$ 81.68 million during 2018-19 and US$ 44.27 million during April-December 2019.
GOA-FDI INVESTMENT PRESENT SCENE
“WMN”BROAD VIEW & Business Support.
“World Media Network” is helping upcoming and existing businesses to grow as the government is supporting the business in increasing their work towards the domestic as well as international Tie-Ups. Service-oriented industries need to be promoted with direct and indirect participation for Franchising modules in the INDIA and “WMN” would help them to connect with the brands as well the investors and venture capitalists to increase the growth of the company in future.
According to Department for Promotion of Industry and Internal Trade (DPIIT), Foreign Direct Investment (FDI) inflow in Goa stood at US$ 1,053 million during April 2000 and March 2020.
GOA& FDI MAJOR ANNOUNCEMENTS
- World class food testing labto be set up in Goa.
**Targeted Industries Key sectors**- “WMN”KEY ROLE.
“World Media Network” is playing an important role in all the categories and sectors, “WMN” is a Press Release distribution company covering over 180 countries covering twenty- five languages across the world . it has ventured into Digital News, Television, Print, Radio, Billboards, Airports, Multiplexes, Talk shows . Press releases are based on industry standards with timely coverages and promoting the business development of FDI and the scope of growth in the country.
- Tourism is the largest segment in the services sector. Goa is traditionally known as a tourist paradise for its natural scenery, beautiful beaches and cultural diversity. During 2018, Goa witnessed arrivals of 7,081,559 domestic tourists and 933,841 foreign tourists. 4.20 million tourists visited the state until August 2019.
- Goa currently has a total of 38 operational mining leases with a reported production of 6.08 million tonnes in 2018-19. Export of iron ore from the state reached US$ 32.19 million in FY20 (till February 2020). Total iron ore traffic handled at Mormugoa Port, Goa was 1.71 million tonnes (MT) in FY20.
- Goa has also emerged as a manufacturing base for several leading companies in areas such as fertilisers, tyres and tubes, cement, electrical machinery, fish-net making machines, automatic washing machines, printed circuit boards, pharmaceuticals and pharmaceutical machinery. Cashew processing has also been a traditional industry in the state.
- Goa has a coastline of about 104 kms and inland waterways of about 250 kms. The coast is full of creeks and estuaries formed by rivers. 72.09 thousand tonnes of marine fish were harvested in 2019. Export of marine products from Goa reached US$ 81.68 million during 2018-19 and US$ 44.27 million during April-December 2019.
- According to Department for Promotion of Industry and Internal Trade (DPIIT), Foreign Direct Investment (FDI) inflow in Goa stood at US$ 1,053 million during April 2000 and March 2020.
- Merchandise export from the state reached US$ 2.06 billion in FY19 and reached US$ 1.54 billion during April-December 2019.
- In 2019, 13 Industrial Entrepreneurs Memorandums (IEMs) have been filed in Goa with a proposed investment of Rs 589 crore (US$ 84.28 million).
- Following are some of the major initiatives taken by the Government to promote Goa as an investment destination:
- As per the State Transport Authority, Government of Goa has granted approval for operations of Goa Miles app-based taxi service in accordance with the Guidelines for App Taxi operators in the State.
- To accommodate new investments in coastal state, Goa government has amended a law to open more space in its industrial estates.
- As of February 2020, Goa had seven formally approved and three notified special economic zones (SEZ’s).
Industrial Map
Industrial Development & Economic Growth In GOA
Latest update: June, 2020
