GCCI BULLETIN JANUARY 2020
07TH MAY 2020
Dear members,
As the sun rises in 2020, let me wish all of you a very happy and prosperous New Year.
A year which we all look at with lots of hope for a revival of economy and an enhanced work environment along with a peaceful social and political environment.
January has been a very hectic month for all at GCCI, involving lots of events, interactions with authorities, and a strong presence in the news about our work done. Overall an eventful and satisfying month.
I cannot but mention once again the fabulous work done by GCCI Women’s Wing led by Mrs . Pallavi Salgaocar which organized the novel “Business Diva” contest which was hugely successful and promoted and brought to the fore the enormous women’s talent through this competition and proved once again that they can rub shoulders with their male counterparts in business.
GCCI along with other industry bodies was invited by the Finance Commission led by Shri. N.K Singh for a meeting regarding the state’s financial requirements. We made a strong pitch to earmark separate funds for industrial development in Goa for the infrastructure sector like Power/Water/Fire safety etc. Also, a grant for the construction of an international level convention center is sought to help the tourism sector in the state. Overall it was a very fruitful interaction wherein the members of the finance commission showed a lot of interest and sought details about our representation. Let’s hope that we get a special grant for the state which will help boost our crumbing industrial infrastructure.
The Goa state budget is around the corner and we have made a strong representation to the Chief Minister seeking a bagful of things to help the industrial development in Goa. Although the CM has given a very patient and involved hearing, let’s wait and watch if our grievances will be addressed at all. But I am quite optimistic about certain positive developments to boost our local economy.
The whole country was looking forward to the Union Budget this year. There were a lot of expectations, especially from the point of view of reviving the economy immediately without any delays. But I have to admit that we were hugely disappointed on that front. No doubt there were a few positives for some sectors which will help the industry and overall economy in the long run. But the immediate dose of revitalizing which was expected is missing. Also what is noteworthy is that India Inc. which is normally diplomatic in commenting on union budget is quite vocal in expressing dissatisfaction over the budget proposals. For the common man too, the direct tax benefits will be marginal if at all, and the DDT matters (Dividend Distribution Tax) is going to be a burden for more taxpayers than a relief. Of course, there will be beneficiaries too (Especially the FIIS).
Back home at the Chamber, we had a very fruitful half-year review of all committees and apprised each other of the developments in various sectors. I urge all our members to bring to our notice any issues or developments (positive or negative) in your sectors through our secretariat. We have very vibrant teams across various sectors to address your issues.
As we wait in anticipation of business and industry-friendly announcements in the state budget, let me conclude by once again wishing you all a very prosperous 2020!
Best Regards
Manoj M. Caculo
ABOUT GGCI
Goa Chamber of Commerce & Industry (GCCI) is Goa’s premier non-profit business, support-services and networking organization. We represent and liaise with SME’s, Corporate Organisations and Government bodies.
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GOA CHAMBER OF COMMERCE & INDUSTRY
Narayan Rajaram Bandekar Bhavan, T.B. Cunha Road, Panaji, Goa