Vibrant Goa Foundation

Pharmaceuticals And Bio-Technology 

  • The genesis of the pharmaceutical industry in Goa, after liberation, commenced in the late 1960’s with the establishment of many pharmaceutical companies. Goa has emerged as a hub for pharmaceutical companies. 
  • From 1995 onwards an all-round development took place and today pharmaceutical industries have over 120 registered units employing approximately 25,000 people directly, besides an additional 2000 to 3000 are employed in the marketing of pharmaceutical products. It is the sunrise industry of the State. 
  • Goa has a large established pharmaceutical industry with estimated yearly revenues of more than Rs. 7,500 crores ($ 1.35 billion). The industry is growing at a healthy rate of about 15% annually. It is estimated that the pharmaceutical industry in Goa contributes around 10% of India’ pharmaceutical output. The Mormugao Port is a notified port for both import and export of pharmaceutical products and there is an Assistant Drug Controller office in Mormugao. 
  • The magnitude of the industry has catalyzed a number of ancillary and service units in and around Goa. This eases the availability of most types of packaging material, consumables and allied services necessary for the smooth running of the industry. 
  • Simultaneously, traders trading in a variety of raw materials, chemicals, packaging material and other consumables, which contribute to the productivity and progress of the industry, have set up shop in Goa. All these activities are generating more employment, industrialization and elevating the quality of life in Goa. 
  • Well known Indian pharma companies like Ranbaxy, Cipla, Cadila, Lupin, Dr Reddy’s Laboratories, Glenmark Pharmaceuticals, Unichem Lab, FDC, Indoco Remedies have their plants in Goa.



  • With numerous beaches dotting its beautiful coastline of 106 km, lush landscape, numerous historical temples and churches, wildlife reserves, the famous Dudhsagar waterfalls, geographical and ecological diversity, and cultural richness, Goa has been described as a tourists’ paradise. More than 3.0 million tourists, including 0.5 million foreign tourists, visit Goa every year and the number is growing at a healthy pace. 
  • Some of the tourism areas of Goa include
  1. Tourism hubs including oceanariums, theme parks, shopping malls, food & beverage outlets, entertainment centers, handicraft centres etc.
  2. Convention centers
  3. High-end water sports and adventure sports
  4. Marinas at designated locations and hinterland river cruise tourism
  5. Heritage tourism & home stays in heritage houses.
  • Goa with its available leisure and excursion options is becoming a hub for MICE (Meetings Incentives Conferences Events). Banks, Pharmaceutical and FMCG companies are increasingly looking at Goa as a viable option for their conferences 
  • Goa has been awarded the prestigious PATWA Award for ‘Best Wedding and Honeymoon Destination’ at ITB Berlin 2015 and “Wedding Destination of the Year” at IITM Bangalore and IITM Chennai in 2015.


Wellness (Medical Tourism) 

  • While medical tourism is growing in Goa, there are new facilities coming up in the state and drawing more medical tourists to Goa for high-end and complicated medical procedures.


Agro-Based And Food Processing 

  • Goa has traditionally been strong in agricultural production. Fertile agricultural land available in Goa is suitable for cultivation of paddy, pulses, sugar cane, garden crops like coconut, cashew, areca nut, mangoes, jackfruits, bananas, and pineapples. 
  • Cashew processing has been a traditional industry in the state. Cashew apple is also used in the production of feni, a local liquor, which has become internationally popular. Cashew Feni of Goa has obtained GI registration (Geographical Indication) in February 2009. 
  • During 2016-17, cashew nut production in the state was estimated at 30,200 tons. Agriculture in Goa comprises cultivation of crops like paddy, cashew, coconut and seasonal vegetables and pulses, and provides livelihood support to nearly 12% of the state’s 1.5 million population. 
  • Major ancillaries industries based on coconut are preservation and packing of tender coconut water in pouches, Snow ball tender nut, coconut water concentrate, coconut jelly, coconut Vinegar, desiccated coconut, coconut chips, bottled coconut milk, coconut cream, coconut jam, virgin voconut oil, coconut flour, coconut bites, coconut shell powder, coconut shell charcoal, activated carbon and coconut shell based handicrafts.
  • Horticulture is an important segment of the agriculture sector. Mangoes and pineapples are the two important horticultural crops, which are available in Goa. 
  • From mango, value added products like frozen mango pulp, mango bar, dehydrated mango powder, dehydrated ripe mango slices, unripe and fallen mango pickle, mango nectar and mango syrups are manufactured and exported to various parts of the world. From pineapple value added products like Squash, Jam etc. are prepared and shipped to numerous countries. 
  • Fishing industry forms the second largest industry both in terms of employment and income in the state. Numerous ancillary and subsidiary activities around fish harvesting, is also contributing to Goa’s economy. 
  • Goa experiences favorable climate for fishing activities esxpecially from the month of September to March. Goa has a coastline of about 104 kms and inland waterways of about 250 km. The coast is full of creeks and estuaries formed by rivers. 
  • 28 thousand tons of marine fish and 5.33 thousand tons of inland fish were harvested in 2017. Marine fish production in the state in 2017 was 120,430 tons while inland fish production was 5,332 tons.


Light Engineering 

  • Apart from having an established iron ore mining industry, Goa has emerged as a manufacturing base for several leading companies in areas such as fertilizers, tyres and tubes, cement, electrical machinery, fish-net making machines, automatic washing machines, printed circuit boards, pharmaceuticals and pharmaceutical machinery. 
  • The state of Goa does not have a long history of industrialization. Prior to liberation in 1961, the State had predominantly agriculture and trading economy with few natural resources-based industries like agro-processing and mining. 
  • Since liberation, the State has steadily switched over to a manufacturing-based and service economy. The share of manufacturing sector in Goa’s net state domestic product has increased from 7 per cent in 1960 to 40 per cent in 2002-03. 
  • The light engineering industry would broadly include electrical, electronics & instrumentation, medical equipment, IT hardware, mechanical and other environmentally friendly hi-tech engineering units. 
  • Goa has several large and MSME light engineering industrial units. Some of the inherent advantages, which Goa offers to light engineering industries, include the availability of port, road, rail and air infrastructure and a large educated workforce. 
  • The industries in Goa comprise of:
    • Plastics and petroleum products
    • Non-metallic mineral products
    • Other chemical products
    • Electrical machinery and appliances
    • Basic metals and alloy units
    • Transport equipment
    • Machinery tools and parts
    • Basic metal and alloy units like pig iron plants, steel ingots and rolled products, ferrous and non-ferrous alloys and aluminum tubes
    • Various types of petroleum-based industries like plastic products, PVC bottles, laminated products and films
    • Automobile components
    • Fiber-glass-based products
    • Rubber products
    • Electrical machinery and appliances like fans, motors, generators, washing machines, resistors, batteries, PCB’s
    • Telecom products like electronic exchanges, lamps, wire communication systems and CD’s.
    • Building materials
    • Cotton spinning
    • Shipbuilding
    • Repairing and general engineering
    • High precision activities like jewel bearing and diamond drilling etc.


Information Technology (IT) 

  • Despite being a small state and a late starter in the IT industry, Goa is ideally placed to capitalise on the opportunities available in the sector. Goa is one of the most literate states in India, with a literacy rate of over 88.7%; most Goans are conversant with the English language, which is the lingua franca for the IT industry. 
  • Goa has more than 250 IT companies in Goa out of which 70 percent of the companies are in the startup space. IT companies based out of Goa are developing tourism solutions, logistics solutions, transport solutions or eCommerce solutions for client’s abroad. Goa has a high broadband penetration as compared to the average broadband penetration in India. 
  • Goa has very robust manufacturing setup in the state, which contributes to 25-30 percent to the GDP. Goa’s key electronic manufacturing companies includes Seamen,IFP, CommScope and Titan. These firms are unicorns in their own field. The Government of Goa has earmarked about 50 acres of land for the IT park at Chimbel which is about six km from Panaji and 150 acres of land at a place called Tuem which is in North Goa.


Emerging Technologies

  • India’s gems and jewellery sector is one of the largest in the world contributing 29 percent to the global jewellery consumption. The sector is home to more than 300,000 gems and jewellery players, contributes about 7 percent to India’s Gross Domestic Product (GDP) and employs over 4.64 million employees. 
  • India’s gems and jewellery sector contributes about 15 percent to India’s total merchandise exports. The overall net exports of gems and jewellery stood at US$ 32.71 billion during 2017-18. 
  • India is the world’s largest centre for cut and polished diamonds in the world and exports 75 percent of the world’s polished diamonds. Today, 14 out of 15 diamonds sold in the world are either polished or cut in India.


Building Materials, Construction And Real Estate 

  • The real estate sector is one of the most globally recognized sectors. The construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of India’s economy. 
  • Real estate sector in India is expected to reach a market size of US$ US$ 1 trillion by 2030 from US$ 120 billion in 2017 and contribute 13 per cent of the country’s GDP by 2025. 
  • Retail, hospitality and commercial real estate are also growing significantly, providing the much-needed infrastructure for India’s growing needs. 
  • The construction development sector in India has received Foreign Direct Investment (FDI) equity inflows to the tune of US$ 24.87 billion in the period April 2000-June 2018.


Ship Building 

  • Shipbuilding is one of Goa’s oldest industries. Goan shipyards have seen many bright days in tune with the mining industry, mainly because the yards were involved with construction of barges, used to transport ore. The government of India’s ‘Make in India’ initiative is creating opportunities for naval shipbuilding and production facilities of ancillary equipment and services.
  • Currently there are around 25-30 shipyards in Goa out of which only around 10 are functional. Shipyards perform both ship building and repair activity work. Goa shipyard limited is the biggest shipyard in Goa. The key activities undertaken are:
  • Repair & overhaul
  • Upgrades
  • Maintenance
  • Turnkey Packages
  • Modifications & Enhancements
  • Technology Transfer
  • Manpower
  • Training
  • Details of Investments in Ship building sector as of 2017 in Goa:
ProjectProposed Investment (In Crore)
Setting up of a new unit for manufacturing of ship equipment for new construction of defense vessels and requested to allotment of Plot admeasuring approx. 3000 sq.mtrs either in Panchawadi, Sanguem in South Goa and Tuem in North Goa.3
Setup of a manufacturing unit for manufacturing of Shipbuilding components like windows, hatch, covers, port holes, bollards etc. fitted in the interior and exterior of ships or offshore vessels and requested industrial plot admeasuring 3500 sq.mtrs at Kundaim Industrial Estate, Kundaim, Goa.1.25


Start Ups And Start Up Institutions 

  • Goa is a popular urban state with the highest per-capita GDP and enviable human development indices. Goa’s cosmopolitan culture, impressive infrastructure, quality manpower, picturesque landscape, clean environment and development orientation, not only makes Goa an ideal base for entrepreneurs to realize their dreams, but also plays a key role in facilitating an environment that is supportive and makes the start-ups both technologically innovative and globally competitive.
  • The reasons for the boost of startup sector in Goa are due to an ideal work-life balance to the perfect environment for innovation. Add to that connectivity and physical infrastructure that are fast improving. Goa has a strategic location advantage with accessibility via road, rail, sea and airports.
  • While Goa has the advantage of availability of a large number of engineering graduates from the colleges here, there are other unconventional areas such as food processing, clean technologies and solid waste management that are focus areas for the state government and are attracting young entrepreneurs to the state
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