Goa

Capital | Population Panaji | 1.817 million
State GDP & Growth Rate - GDP State GDP is around US$ 582 billion and the growth rate is approx. 12.94%.
Per capita income The per capita income ranges from US $ 3340 to 3355.
Political Scenario The Government of Goa has a unicameral legislature consisting of a forty member Legislative Assembly. Bharatiya Janata Party (BJP) is the ruling party since 2014.
Key Sectors / Industries Tourism, food processing, IT & ITeS, mining, biotechnology, pharmaceuticals and fishing are the key industries in Goa.
Emerging markets / opportunities
  • - Agriculture
  • - Industries
  • - Fisheries
  • - Tourism
Business Scenario /Government Initiatives
  • The government has planned of creating 50,000 jobs in the next five years, facilitating a new investment of US$ 4.2 billion in the state.
  • The Government of Goa has started the Goa Investment Policy 2013, which laid a special thrust on development of Special Investment Regions and aims to kick start investment in Goan economy.
  • The state is in the process of developing the logistics sector by forming a special logistics group and constructing several bridges to address the existing deficiency with regard to logistics and warehousing.
  • Goa Pharmaceutical Manufacturers' Association (GPMA) is a registered body formed with the objective of uniting the pharmaceutical manufacturers in Goa.
  • In the recent past, the state of Goa has emerged as one of the most developed states in India. The state has scaled high in the ranking as being one of the best states in India for making investments and availability of infrastructure. The state is considered to be a global business destination for investments by both local and multinational companies.
  • Goa is endowed with several essential natural resources. The state has plenty of fertile agricultural land, which is suitable for growing a host of food crops, garden crops, and cash crops.
  • Apart from the previously mentioned factors, there are other advantages of investing in this state:
    • Goa also has full-fledged Internet connectivity, and it has a huge network of telephone exchanges.
    • The state has a good natural port in Mormugao.
    • The state has a responsible and flexible administrative setup.
    • Goa has enough power reserves and affordable tariff rates.
    • It is known for its low crime rates, which is aptly supported by excellent law and order.
    • It is one of the few states in that has high per capita income.
    • Goa also has a well spread network of financial institutions.
  • Goa attracts more than 3.1 million tourists, including 492,322 foreign visitors every year. Goa's economic growth is driven by the strong performance of industrial sectors such as mining, tourism and pharmaceuticals. Mining of (iron ore and manganese, pharmaceuticals, iron and steel industries are present in North Goa while mining and shipbuilding industries are present in South Goa. Companies such as fertilisers, tyres and tubes, cement, electrical machinery, fish-net making machines, automatic washing machines, printed circuit boards, pharmaceuticals and pharmaceutical machinery have a made Goa as their manufacturing base.
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