Goa is the most urbanized state in India with 62.17% urban population It is also among the top three states with highest Per Capita Net State Domestic Product in India.
Goa is located on the west coast of India. The state shares its borders with Arabian Sea to the west, Maharashtra to the north, and Karnataka to the south and the east. It is traditionally known as a tourist paradise for its natural scenery, unique beaches, and cultural diversity.
Goa's economic growth is driven by the strong performance of its industrial sectors such as fishing, agriculture, tourism, and pharmaceuticals.
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 7.51% between 2016-17 and 2022-23. 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.
As of May 2023, Goa had a total installed power generation capacity of 614.84 MW, of which thermal power plants accounted for a significant share in the total installed capacity with 559.96 MW, whereas nuclear and renewable energy contributed 26 MW and 28.88 MW, respectively. Goa is one of the few states in India to achieve 100% rural electrification.
Goa has a well-developed social, physical, and industrial infrastructure and virtual connectivity. It has an international airport that is in line with its importance as a globally-recognised leisure destination. It also has significant port infrastructure. The state has an established base for the pharmaceuticals industry and an emerging destination for knowledge-based industries such as biotechnology and IT.
In 2022-23, Goa recorded over US$ 2.40 billion worth of exports.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), between October 2019-March 2023, FDI inflow in Goa stood at US$ 130.11 million.
The 49th International Film Festival of India (IFFI) 2018 will be held in Goa from 20th to 28th November, 2018. 49th edition of the festival will showcase 212 films from over 68 countries which reflects diversity of taste. International Competition section has 15 films out of which 3 are Indian. Competition section itself represents films produced and co-produced by 22 countries.
Panaji: The Government of India's Export Inspection Agency (EIA) and Quality Council of India (QCI) are planning to set up a world-class laboratory in Goa to test the food quality, according to Mr Suresh Prabhu, Minister of Commerce and Industry and Civil Aviation, Government of India.