Goa’s future lies in sectors like data centres, artificial intelligence, pharmaceuticals, electronics, and food processing, according to Union Minister of Commerce and Industry Piyush Goyal. Addressing the Amazing Goa Business Summit, Goyal emphasized the state’s growing potential beyond its tourism industry.
While Goa is traditionally known for its tourism, Goyal stressed that these modern, high-tech sectors can significantly boost the state’s economy. “Goa holds tremendous potential in technology sectors such as data centres, AI, pharmaceuticals, electronics, and food processing,” Goyal said. He expressed confidence that, alongside its tourism industry, these futuristic sectors will propel Goa to grow faster and more robustly.
The minister highlighted the increasing number of investments in the state, noting the creation of jobs through industrial estates. “Goa has 23 industrial estates that are attracting investments and generating employment. There’s also immense opportunity to collaborate between international investors, industries from other parts of India, and local businesses in Goa,” he said.
Despite having a relatively small population, Goyal pointed out that Goa’s GDP has reached $12 billion, with an impressive growth rate of 11.6 percent. “Goa’s economy is growing at a remarkable pace, attracting substantial foreign direct investment and setting export records in recent years,” he added.
Looking ahead, Goyal expressed optimism about Goa’s role as a hub for high-tech industries. He outlined plans to transform Goa into a destination for data centres and semiconductor chips, including the potential creation of a “mini Silicon Valley” or global capacity centres. “With the right infrastructure and a focus on high quality of life and ease of living, Goa can become a preferred destination for global businesses,” Goyal said.
The Union Minister further underscored the government’s commitment to India’s development, emphasizing that Goa has an important role in realizing the vision of making India a developed nation by 2047. “India’s economy is set to grow from $3.5 trillion to $35 trillion over the next 25 years, and Goa will play a crucial part in this transformation,” Goyal added.
(Inputs from ANI)