New Delhi [India], November 8 : Modern high-tech and futuristic sectors such as data centres, artificial intelligence, pharmaceuticals, electronics, and food processing are the areas where Goa holds tremendous potential, according to Union Minister of Commerce and Industry Piyush Goyal
Addressing the Amazing Goa Business Summit, Goyal underscored the state's growth and added that Goa is a land of opportunity. "I think technology like data centres. AI, pharmaceuticals, electronics, food processing. These are areas where Goa holds tremendous potential," he said.
The Union Minister said that Goa is known for tourism, but these new sectors can contribute a lot to the state's economy.
"I'm confident that alongside tourism, which is a large mainstay of the Goa economy, the foray into these modern high-tech, futuristic sectors will certainly help Goa grow faster, grow bigger, and grow better. We have seen the wellness industry, along with regenerative tourism and home stays side by side with five-star hotels and cultural tourism, make it a very attractive destination," he said.
The minister said in recent times many new investments have come in Goa and they are creating enough number of jobs.
"We have also seen the large number of industrial estates23 industrial estates attracting investment and creating jobs in Goa. At the same time, today there is a large opportunity to co-develop, co design and co-produce in Goa between international investors, industries and businesses from other parts of India and businesses in Goa," Goyal said.
The Union Minister further stated that even with a very small population the Gross Domestic Product (GDP) of the state has achieved a mark of 12 billion dollars.
"It's a very, very robust economy growing at 11.6 per cent and aspiring to grow even bigger and faster. It has attracted a large amount of foreign direct investment and record exports from Goa have been witnessed in recent years," the Union Minister said.
Goyal expressed confidence that Goa will create an additional framework for the high-tech industries to develop itself as the preferred destination for data centres and semiconductor chips.
"We are also looking at setting up a mini Silicon Valley or a mini centre for global capacity centres to come to Goa and coupled with an adequate data centre, storage capacity and infrastructure for quality of life, high quality of life, and ease of living," he said.
The Union Minister further asserted that the government has a very focused approach to making India a developed nation by 2047 and Goa can play a role in this.
"The India story is going to take the India economy from a 3.5 trillion dollar economy to a 35 trillion dollar economy in the next 25 years," Goyal said.
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