Union Budget 2023-24
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SNAPSHOT

Goa is a coastal state located in Western India and is one of the fastest-growing states in the country. The state is also well-connected through rail and road routes and offers a coastline of ~104 Km and 248 Km of inland waterways.

The state is traditionally known as a tourist paradise, but it also has a robust presence in agriculture and fisheries as well as mining (iron ore and manganese). Being one of the highest literacy rates in the country, the flourishing set of knowledge-based industries, including pharmaceuticals, biotechnology, and IT, are exploring more investment opportunities in Goa.

The state is richly endowed with minerals such as iron ore, manganese, ferromanganese, bauxite, and silica sand. It has about 20 industrial estates established by Goa Industrial Development Corporation and an installed power capacity to produce 614.75 MW. This opens the doors for many new business opportunities in Goa. The state offers a low crime rate and strong infrastructure, including seven formally approved and three notified special economic zones (SEZs) (as of December 2022).

Goa ranked #14 in Export Preparedness Index 2021.

Highest Literacy

4th highest literacy rate amongst Indian states & UTs

Cargo Traffic

Goa is the most urbanized state in India with 62.17% urban population.

Iron Ore

Among top 3 states with highest Per Capita Net State Domestic Product in India

Focus sectors Goa

Tourism

Tourism is the highest contributor to Goa's GSDP under the service sector.

The state recorded tourist arrivals of 3.4 Mn in 2021-22 and is a key contributor to the Goan economy. The inauguration of a new airport in Mopa is expected to significantly boost tourism in North Goa. The state has also introduced initiatives like Home Stay Policy to adapt to global changes in the tourism sector. The state hosts multiple social and cultural events on a Global scale annually.

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Focus sectors Goa

IT and ITeS

Given the high literacy and presence of knowledge-based industries in the state, the Government of India has granted approval to the state government for constructing a world-class Electronics Manufacturing Cluster in Tuem.

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Focus sectors Goa

Pharmaceuticals

Goa is a key exporter of pharmaceutical products, and over 90% of the formulations manufactured are exported.

Goa is the 4th largest Pharma producer of the country with more than 120 manufacturing units in the pharmaceutical sector. Exports from Goa in the pharma sector account for 10% of the total pharmaceutical exports of India.

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Focus sectors Goa

Mining

The state conducted 22 e-auctions of the mineral ore stacks in various mines and stackyards. A total quantity of 13.54 Million Tons of mineral ore was sold.

The mining belt of Goa covers an area of approximately 700 sq km and is mostly concentrated in Bicholim, Salcete, Sanguem and Quepem.

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Tourism
IT and ITeS
Pharmaceuticals
Mining
62.17

Urbanisation Rate

Females/ 1000 Males
1027

Female/Male Ratio

Male/Female Ratio

Demographics

About 67% of Goa's population is in the working-age group of 15-59 years.

Goa stands at 26th position in terms of population among all states in India. The total population of the state is 1.5 mn.

  • State Uni

    1

    State University
  • Engg Colleges

    11

    Engineering Colleges
  • Polytechnic

    4

    Polytechnic Institutes
*As per secondary research sources
*As per secondary research sources

IMPORTANT LINKS

Industrial Land Bank Portal

GIS - based map displaying available infrastructure for setting up business operations in the state.

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Data On Map

Gallery

  • Apr 27, 2023 PM Modi's addresses Republic Summit 2023
  • Apr 13, 2023 New India's Trade Performance by Piyush Goyal, Commerce & Industry Minister
  • Mar 06, 2023 PM Modi addresses webinar on Ease of Living using technology
  • Dec 16, 2022 PM Modi inaugurates International Airport at Mopa, Goa
  • Dec 19, 2021 Multiple development works inaugurated by PM Modi in Goa
  • Apr 27, 2023 PM Modi's addresses Republic Summit 2023
  • Apr 13, 2023 New India's Trade Performance by Piyush…
  • Mar 06, 2023 PM Modi addresses webinar on Ease of Living using…
  • Dec 16, 2022 PM Modi inaugurates International Airport at Mopa…
  • Dec 19, 2021 Multiple development works inaugurated by PM Modi…

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MAJOR INVESTORS

Updates From Goa

  • Goa Industrial Development Corporation RFB

    Press Release

    Goa Industrial Development Corporation RFB

  • Economic Survey 2022-23

    Report

    Economic Survey 2022-23

  • 1

    Press Release

    Goa can become a start-ups & innovation h…

  • Developing districts as Export Hubs

    Report

    Developing districts as Export Hubs

  • Ease of Doing Business in India

    Report

    Ease of Doing Business in India

  • Investment Promotion Reforms in India

    Report

    Investment Promotion Reforms in India

  • BRAP Guidelines

    Guidelines

    State Reforms Action Plan 2020-21 Implementat…

  • Business Reform Action Plan 2020-21

    Report

    State Business Reform Action Plan 2020-21 Rep…

  • Report on Nineteenth Electric Power Survey of India (Mega Cities)

    Report

    Report on Nineteenth Electric Power Survey of…

  • Export Preparedness Index 2021

    Report

    Export Preparedness Index 2021

  • Budget 2020

    Goa Budget Speech 2020-21