The Late Shri V. M. Salgaocar played an important role in the development of Goa in the post Liberation period. He is the founder of the V. M. Salgaocar Group of Companies, which had its humble beginning in the year 1942, as a small trading firm in Vasco-da-Gama, under the name V. M. Salgaocar & Bro. Pvt. Ltd. Today the Salgaocars present a mirror image of a wide spectrum of Goan industry, strongly placed in diverse fields, like mining and hospitality.

The Group has emerged as a leader in the internationally competitive business of mining and export of processed iron ore and at the same time been acclaimed for its environmental protection and developmental measures, having been awarded ISO 9002 and ISO 14001 certificates by Indian Register Quality System (IRQS).

Shri V. M. Salgaocar hailed from a poor but respectable family. Being the eldest son, who lost his father when Vasudeva was barely 10 years old, he worked ceaselessly, with faith in God, to earn for the family and look after his younger brother and elder sister. In the difficult circumstances, he could not complete his education nor did he have any time for recreation. He lost his normal childhood in the struggle for survival.

Therefore, it was his desire that the children of Goa should get all such facilities which fate had denied him. H encouraged the promotion of education, which he felt is the base to ensure a dignified future. He promoted in the year 1972, an Educational Society namely 'Devi Shervani Education Society' which started in the year 1973, the first Law College in Goa, now known as the 'V.M. Salgaocar College of Law', which has earned a name for itself all over India for quality education. The Society has also started in the year 1977, 'Goa Institute of Management Studies', presently affiliated to Goa University and offers a number of management programmes.

He was also instrumental in initiating and starting the 'Institute of Ship Building Technology (Goa)' at Bogda, Vasco. His assistance for those who pursued higher education was generous and admired he admired the performance of bright students, more so, he had special consideration fro those who were needy. It was his intention that no child should be deprived of education for want of funds and he did whatever he could to help all.

As a man with a vision, he fought for Goa's unique identity during the historic Opinion poll in Goa. He supported all Goan social causes, helped establish orphanages, community and welfare societies, schools and institutions in the villages and gave generously to the needy and deserving Goans.