Chopra, speaking at the inauguration ceremony in the presence of Chief Minister Digambar Kamat, said Goa as a destination for international film festivals needed a "lot more improvement" and "time was running out".
"Even after six, seven, eight years, we still do not have the facilities to have an international film festival, " Chopra said.
"Time is running out. Every day people are doing better international film festivals. We need to be doing a lot better, " Chopra said.
"Why can't we have a 12 screen cinema to screen festival films? Why can't we have a convention centre? When screening facilities were required, when the first festival was being held here, INOX built a multiplex in six months, " Chopra said.
Earlier, the veteran film maker and several time Filmfare award winner said young directors and the new whiz kids were guiding Indian cinema on the right path.
"They are doing a terrific job. Taking India into unchartered territory. They are winning Oscars, they are taking cinema forward, " Chopra said.
But he complained that the policies of the central government in the form of rigid tax regimes were choking the Indian film industry.