Panaji: The Goa Investment Promotion and Facilitation Board’s struggle to translate approved industrial projects into operational reality has resulted in a meager 7.4% completion rate for ventures cleared since 2022.Data released by the directorate of industries, trade and commerce shows that out of 95 proposals approved since 2022, 88 projects remain classified as not completed, reflecting severe bottlenecks in the approval and execution mechanism.The backlog points to systemic delays that prevent capital investment from materialising into active industries. The delays span a wide spectrum of critical sectors, with the food processing, agriculture, and brewing units taking the heaviest hit, as 20 proposed plants and cold storage units remain stalled. Similarly, the engineering and metal fabrication sectors are currently grappling with a backlog of a dozen incomplete facilities, while logistics, warehousing, and general services account for another 23 delayed initiatives.Despite securing initial in-principle approvals, project proponents frequently encounter significant roadblocks. The stark contrast between proposed investments and actual on-ground execution raises serious concerns about the overall effectiveness of the investment promotion strategy, said an industrialist, who did not want to be named.Even among the seven projects that have managed to cross the finish line, execution timelines are heavily stretched. The manufacturing facility for Guala Closures India Private Limited, for instance, took over two years to reach operational status following its approval in mid-2023. Meanwhile, earlier proposals, such as a metal stamping and medical ventilator plant by dvb Design and Engineering cleared in late 2021, have yet to see the light of day.The cumulative financial impact of these stalled initiatives highlights a severe backlog in capital infusion for the state. Since 2021, the 95 industrial projects cleared by the Goa Investment Promotion Board were meant to bring a total proposed investment of approximately Rs. 5,801.9 crore. The failure to execute the vast majority of these approved ventures means that this massive sum of potential capital investment remains completely unrealised.Companies such as 3B Advanced Composites Pvt Ltd and Netzsch Technologies India Pvt Ltd, which received their project approvals in Nov 2022, remain classified as not completed. The pharmaceutical firm Zydus Lifesciences Ltd secured clearance in Feb 2025 for a major capacity expansion but remains incomplete.Data shows that for many of these projects, plots have yet to be allotted by GIDC, representing a primary bottleneck that prevents on-ground execution.Other ventures like Kineco Exel Composites India Pvt Ltd and Karad Projects and Motors Ltd also secured approvals between late 2022 and early 2023, yet both continue to face ongoing delays and remain incomplete despite having identified operational locations.
