Goa is located in the western region of India. The state shares its border with the Arabian Sea to the west, Maharashtra to the north and Karnataka to the south and the east. It is one of the fastest-growing states in the country. Goa has a coastline of about 104 km and inland waterways of about 250 km. The coast is full of creeks and estuaries formed by rivers.
At current prices, Goa’s Gross State Domestic Product (GSDP) (budget estimate) Goa’s Gross State Domestic Product (GSDP) (budget estimate) is expected to stand at Rs. 1,21,309.02 crore (US$ 14.65 billion) in 2024-25 and stand at Rs. 1,00,002.25 crore (US$ 12.87 billion) in 2023-24. At current prices, Goa’s Gross State Domestic Product (GSDP) was Rs. 914.16 billion (US$ 11.15 billion) in 2022-23. The GSDP (in Rs.) increased at a CAGR of 9.17% between 2016-17 and 2024-25.
In 2022-23, the Gross Value Added (GVA) growth was estimated at 4.73% for the primary sector, 6.52% for the secondary sector, and 9.66% for the tertiary sector. In 2023-24, the secondary sector accounted for 51.32% of the Gross State Value Added (GSVA) at current prices, followed by the tertiary sector at 42.31% and the primary sector at 6.37%.
At current prices, Goa’s Net State Domestic Product (NSDP) stood at Rs. 92,522 crore (US$ 11.17 billion) in 2023-24. The NSDP (in Rs.) increased at a CAGR of 7.90% between 2015-16 and 2023-24.
Goa has a strong presence in the fishing, agriculture, tourism, and pharmaceutical sectors. Mining (iron ore and manganese), pharmaceuticals, iron and steel industries are present in North Goa while mining and shipbuilding industries are present in South Goa.
Goa’s merchandise exports were valued at Rs. 21,445 crore (US$ 2.48 billion) in FY25, while exports during FY26 (until July) reached Rs. 7,546.06 crore (US$ 0.87 billion).
Drugs And Pharmaceuticals were the most exported items, with a 50.65% share. Engineering Goods, Organic and Inorganic Chemicals, Electronic Goods and Marine Products were the other key export commodities from Goa.
Goa has also emerged as a manufacturing base for several leading companies in areas such as fertilisers, tyres and tubes, cement, electrical machinery, fish-net-making machines, automatic washing machines, printed circuit boards, pharmaceuticals, and pharmaceutical machinery. Cashew processing has also been a traditional industry in the state.
Goa has a coastline of ~104 km and inland waterways of ~250 km.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), Foreign Direct Investment (FDI) inflow in the state stood at Rs. 1,390 crore (US$ 182.16 million) between October 2019- Dec 2024.
As of March 2025, Goa had a total of 2.49 million subscriber base (wireless + wireline).
Following is some of the major initiatives taken by the Government to promote Goa as an investment destination:
- The Goa State Budget 2025-26 allocated Rs. 967 crore (US$ 111.83 million) for Goa Medical College and Rs. 828 crore (US$ 95.76 million) for State Health Services.
- As per the State Budget 2025-26, the government had allocated Rs. 1,249 crore (US$ 144.44 million) for education, sports, arts, and culture.
- Under the Goa State Budget FY26, Rs. 280 crore (US$ 32.38 million) has been allocated as capital outlay for urban development, while Rs. 136 crore (US$ 15.73 million) has been earmarked as assistance to local bodies and corporations.
- According to State Budget FY26, Goa has allocated Rs. 962 crore (US$ 111.25 million) has been earmarked as capital outlay for the development of roads and bridges.
- Goa recorded 54.55 lakh tourist arrivals in H1 2025, including 51.84 lakh domestic and 2.71 lakh international visitors, with January witnessing the highest footfall.
- The Mormugao Port Authority is targeting an investment pipeline of Rs. 6,160 crore (US$ 712.39 million) through 25 MoUs signed at the India Maritime Week in October 2025, while the Goa government secured Rs. 200 crore (US$ 23.13 million) for waterways infrastructure.
- On October 4, 2025, the Indian Renewable Energy Development Agency (IREDA) commissioned a 45 kW on-grid solar system at a water-pumping station in North Goa, expected to generate about 60,000 units annually, fully solarising the pumping load.
- On October 4, 2025, Union Home Minister Mr Amit Shah inaugurated the ‘Mhaje Ghar Yojana’ and laid foundation stones for development projects worth Rs. 2,452 crore (US$ 295 million) in Goa.
- On September 26, 2025, NBCC (India) Limited signed an agreement with the Government of Goa to redevelop seven key infrastructure sites in Goa with an estimated project value of Rs. 1,700 crore (US$ 196.60 million).
- On May 29, 2025, the Goa Cabinet approved tourism projects worth Rs. 211 crore (US$ 24.4 million), including the Rs. 125 crore (US$ 14.46 million) Porvorim Town Square, a Rs. 22 crore (US$ 2.54 million) Creek Experience, and a Rs. 64 crore (US$ 7.4 million) museum in Farmagudi.
- On February 12, 2025, the Goa Industrial Development Corporation (Goa-IDC) approved over Rs. 100 crore (US$ 12.12 million) in infrastructure upgrades across its 24 industrial estates.
- In February 2025, The Goa Investment Promotion Board approved nine projects worth Rs. 733 crore (US$ 84.77 million), expected to generate 2,319 jobs, including expansions by Procter & Gamble and Zydus Lifesciences.
- The Union Ministry of Road Transport and Highways selected a Rs. 700 crore (US$ 80.95 million) Goa project to pilot AI-driven Automated and Intelligent Machine-aided Construction (AIMC) for the four-laning of the Bendordem–Canacona highway section.
- In July 2024, Union Minister for Road Transport and Highways, Mr. Nitin Gadkari, inaugurated a significant enhancement to Goa's infrastructure by dedicating a 6-lane access-controlled road. This vital corridor features elevated viaducts and connects Manohar International Airport to Dhargal along NH-166S, greatly improving road connectivity in the region.
- In November 2023, the elevated road (Patradevi to Bambolim, the Porvorim stretch) is expected to be 5.2 km long and is expected to resolve the traffic blockage along this section of the NH-66 leading to Panaji and improve access to the Mopa airport. Once complete, the project will allow vehicles to drive at 80-100 kmph as against the current 40-60 kmph.
- In October 2023, 110 teachers from 39 disciplines from higher education institutes got training in digital education.
- In September 2023, Goa Shipyard Ltd (GSL) and Mormugao Port Authority (MPA) are in talks to ink the MoU for the redevelopment of berth no. 9 during the Global Maritime India Summit in Mumbai.
- In FY24 Goa airport handled 6.87 million passengers and movement of 44,180 aircraft and handled 6,098 MT of freight.
- In March 2023, to improve the 4G mobile network in the state, the cabinet decided to provide 2,000 sq. feet of space on government land for BSNL. The state government has received a request from BSNL for granting free Right of Way (ROW) permission to lay optical fibre cables (OFC) in planned locations as well as a no-objection certificate (NOC) for towers in 70 locations under the 4G saturation project.
Goa offers a stable and diversified economic environment, driven by strong performance in tourism, pharmaceuticals, manufacturing, and services. Consistent GSDP growth, high-quality social and physical infrastructure, reliable power availability, and excellent connectivity through ports, highways, and international airports strengthen the state’s investment appeal. Rising exports, steady FDI inflows, and targeted public spending on health, education, urban development, and transport are supporting inclusive growth. With sustained tourism momentum, expanding industrial estates, and a clear transition towards renewable energy, Goa is well positioned for long-term, sustainable economic development.
