The Associated Chambers of Commerce and Industry of India (ASSOCHAM) in its study claims that Goa has failed to attract investors and grow. “Predictability and stability is an important condition for continuous flow of investments and looking at this trend, it seems both are seriously lacking in Goa,” said the study.
“Goa has virtually failed to attract investments as year-on-year growth rate for inflow of new investments dipped to about nine per cent in 2015-16 from a level of over 91 per cent in 2014-15, probably due to a fluid economic situation prevailing in the state,” says ‘Goa: Economic & investment scenario’ a study by Assocham.
It has stated that the state needs to take corrective measures to boost the confidence of investors. “Goa needs to adopt a better strategy for growth and fiscal management”, the study said. One fact the report highlights to support its claim is that over 58 per cent of investments are in different stages of implementation.
Sectors such as real estate, services, and construction have recorded a 11-12 % compounded annual growth rate (CAGR) respectively. While electricity and manufacturing sectors have recorded a 32 per cent and eight per cent negative CAGR respectively.
ASSOCHAM has suggested the state government to design more inclusive tourism policies. It also highlighted that policy initiatives need to be taken in regards to cashew grower’s cooperatives.
