Land Shortage Hits Goa's Verna Industrial Estate

Goa's Verna Industrial Estate is facing a severe shortage of land for industrial investments, with the Goa Industrial Development Corporation (GIDC) informing the Goa Investment Promotion Board (IPB) that it has reached its internal threshold of 40% of available land. This development comes after the IPB recommended three investment projects for land allotment at the estate. The GIDC has set aside 40% of industrial land for projects approved by the IPB, but the regulator has the power to review or relax this cap. Efforts are underway to find ways to unlock more land for industrial proposals.

Key Takeaways:

• The Goa Industrial Development Corporation (GIDC) has conveyed to the Goa Investment Promotion Board (IPB) that land for special project category investments at the Verna Industrial Estate is unavailable.
• The GIDC has reached its internal threshold of 40% of available land at the industrial estate.
• The GIDC regulations set aside 40% of industrial land for projects approved by the IPB.
• The IPB submitted three applications for land allotment under the special project category at the Verna Industrial Estate in April.
• The three applications were for Acme Print Media, Industrial Engineers, and Navin Pharma Services, each with a requirement of 4,000sqm of industrial land.
• The GIDC has the power to review or relax the 40% cap on land allotment for investment projects recommended by the IPB.
• The IPB is exploring ways to find more land for industrial proposals.

Statistics:

• 40% of industrial land at the Verna Industrial Estate is reserved for projects approved by the IPB.
• The GIDC has reached its internal threshold of 40% of available land at the industrial estate.
• 3 investment projects have been submitted by the IPB for land allotment at the Verna Industrial Estate.
• Each project requires approximately 4,000sqm of industrial land.

Sources:

• "Goa's Verna Industrial Estate facing land shortage", The Times of India, April 2023.