Overview
Goa, India’s smallest state by area, recorded a GSDP of ₹84,000 crore in 2023–24, with a growth rate of 8.5%. The state’s per capita income stands at ₹5,05,000, one of the highest in India, reflecting a prosperous economy. Goa’s economy is driven by tourism, mining, and agriculture. Panaji, the capital, is a key center for commerce, while Vasco da Gama and Margao contribute significantly to trade and tourism. The state is also known for its vibrant coastal tourism industry.
Why Invest in Goa
- Tourism Industry: A global hotspot for leisure, medical, and eco-tourism.
- Proximity to Markets: Strategic location with excellent connectivity to Mumbai and other coastal regions.
- Sustainable Development: Focus on sustainable tourism and renewable energy projects.
- Government Incentives: Investor-friendly policies promoting infrastructure development and business opportunities.
Incentives & Schemes
- Tourism Infrastructure: Special incentives for setting up tourism-related infrastructure and services.
- Industrial Investment: Benefits for manufacturing and mining, especially in eco-friendly industries.
- Renewable Energy: Focus on solar energy and wind energy projects to support green growth.
Key Economic Data: Goa
| Category |
Details |
| Capital |
Panaji |
| GSDP (2023–24) |
₹84,000 crore |
| Growth Rate |
8.5% |
| Per Capita Income |
₹5,05,000 |
| Top Sectors |
Tourism, Mining, Agriculture, Services |
| FDI Share in India |
0.3% |
| Top FDI Sources |
UAE, USA |
| Cumulative FDI (FY2024) |
₹1,200 crore (Q1) |
| Policy Impact |
Focus on sustainable tourism, renewable energy, and infrastructure |
| Recent FDI |
₹500 crore (2020–21) |
Latest Insights
- Goa attracted ₹1,200 crore in cumulative FDI by Q1 FY2024.
- Tourism remains the driving force of the state’s economy, with strong government support for eco-tourism and hospitality.
- Government initiatives are promoting green energy and sustainable tourism growth.
