This initiative, aimed at facilitating the orderly exit of sick industrial units from the state, was introduced in the presence of state Industries Minister Mauvin Godinho and Goa Industrial Development Corporation (GIDC) chairman Aleixo Reginaldo Lourenco.The scheme, which will be in effect for one year, addresses the issue of non-functional industrial plots. Currently, 423 plots spanning 12,75,000 square metres remain unused due to the inactivity of sick units. "These are totally sick units," Sawant emphasised, underscoring the necessity for such a measure.The Chief Minister highlighted the scheme's dual benefits. First, it aims to free up valuable land resources, which are crucial for industrial development. Second, it creates opportunities for both existing industries and new entrepreneurs to acquire these non-functional plots. "Land is an important resource for industrial development, and the availability of plots will create opportunities for existing industries and new entrepreneurs," Sawant noted.This initiative is expected to attract new investments and generate employment opportunities, providing a muchneeded boost to the state's economy. By addressing the longstanding issue of sick industrial units, the Goa government demonstrates its commitment to fostering a dynamic and sustainable industrial environment.

GOA GOVERNMENT LAUNCHES EXIT SCHEME FOR SICK INDUSTRIAL UNITS

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.