Goa's Incentives Boost to Logistics and Warehousing Investors

The Goa cabinet has announced a new incentives scheme designed to attract investment in the logistics and warehousing sector. Approved on Wednesday, the initiative provides financial benefits to investors, including a capital investment subsidy ranging from 10 to 15 percent, capped at Rs 50 lakh.

According to Chief Minister Pramod Sawant, the State Logistics and Warehousing Incentives Scheme is set to transform Goa into a major logistics hub. The scheme's features include a 50 percent interest subsidy on term loans for three to five years and 100 percent reimbursement of stamp duty and registration fees.

Further incentives include a skills subsidy for Goan workers, subsidies for quality certification, logistics software upgrades, and tracking device installations. Additionally, customs incentives will be available for mega projects, evaluated individually, as the state receives numerous proposals from this rapidly expanding sector.