Overview
Andaman & Nicobar, a Union Territory located in the Bay of Bengal, recorded a GSDP of ₹4,600 crore in 2023–24, with a growth rate of 6.5%. The per capita income of the region stands at ₹2,20,000, higher than many other regions in India. The economy is largely driven by tourism, fisheries, agriculture, and shipping. The islands' scenic beauty, rich biodiversity, and historical significance make them a key tourist destination in India.
Why Invest in Andaman & Nicobar
- Tourism Potential: The islands are famous for their pristine beaches, coral reefs, and eco-tourism opportunities.
- Strategic Location: Situated at the crossroads of international maritime trade routes, offering logistical advantages.
- Fisheries Sector: Rich marine resources, creating opportunities for seafood processing and exports.
- Government Support: Focused policies on tourism, sustainable development, and marine industries.
Incentives & Schemes
- Tourism Development: Incentives for setting up resorts, eco-friendly hotels, and marine tourism infrastructure.
- Fisheries Promotion: Subsidies and support for seafood processing, aquaculture, and fish export businesses.
- Infrastructure Development: Special focus on enhancing transport connectivity, ports, and smart city initiatives.
Key Economic Data: Andaman & Nicobar
| Category |
Details |
| Capital |
Port Blair |
| GSDP (2023–24) |
₹4,600 crore |
| Growth Rate |
6.5% |
| Per Capita Income |
₹2,20,000 |
| Top Sectors |
Tourism, Fisheries, Agriculture, Shipping |
| FDI Share in India |
0.01% |
| Top FDI Sources |
Singapore, UAE |
| Cumulative FDI (FY2024) |
₹120 crore (Q1) |
| Policy Impact |
Focus on sustainable tourism, fisheries, and infrastructure |
| Recent FDI |
₹30 crore (2020–21) |
Latest Insights
- Andaman & Nicobar attracted ₹120 crore in cumulative FDI by Q1 FY2024.
- The tourism sector remains a major driver, with eco-tourism initiatives gaining traction.
- Government policies continue to encourage investment in fisheries, sustainable tourism, and infrastructure development.
