Goa's abundant reserves of iron-ore drive the mining industry in the state. It is also an established base for the pharmaceuticals industry and an emerging destination for knowledge-based industries such as biotechnology and information technology (IT). Tourism is another key revenue generator because of the inflow of international tourists.
The state is targetting 12 per cent annual economic growth during the Eleventh Five-Year Plan period (2007-12). The state has one of the highest per capita incomes in the country. At current prices, the Gross State Domestic Product (GSDP) of Goa was about US$ 4.3 billion in 2008-09. The average GSDP growth rate between 2000-01 and 2008-09 was about 15.0 per cent.
As of March 2010, the outstanding project investments in the state were US$ 1,893 million, with the services sector accounting for 77 per cent. Some of the large projects under construction include the Konkan Railway‟s Sky Bus metro rail, the Tillari irrigation project and part of Power Grid Corporation‟s Western Grid Strengthening Scheme-II. The FDI inflows between January 2000 and May 2010 were US$ 698 million.
The state offers a wide range of fiscal and policy incentives for businesses under the Industrial Policy, 2003. Additionally, the state provides incentives under specific policies for the biotechnology and IT sectors.State Presentation (November 2010)
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