Goa : Trade and Commerce

Goa is situated on the west coast of the country with impressive socio economic indicators. The Structure of economic activities changes over time due to changes in structure of production and demand in the economy. There are lot of sectors that contributes to the trade and commerce of the state.

The GSDP at constant (2011-12) prices for the year 2015-16 (Quick Estimates) is estimated at above 37,520 crore as against 34611 crore in the year 2014-15 (Provisional- Estimates) thereby reflecting a Growth of 8.41 percent as against 9.64% in 2014-15.

Trade and commerce through industries

Major trade of Goa is dependent on the industries sector. Economy of Goa is increasing at a rapid pace because of accelerated industrial development. The mission is to create sustainable EMPLOYMENT opportunities mainly to the local people of Goa. It also includes Environment friendly industrial development ensuring balanced growth of regions, a facilitative regime that explores and unleashes the energies of the private sector to create an environment in which existing and new industries can prosper.

Micro, Small & Medium Enterprises

Government of India had enacted the Micro, Small, Medium Enterprises Development Act 2006 w.e.f 02/10/2016 and the industrial units were classified as Micro Small and Medium Enterprises (MSME) separately based on the Investment in plant and machineries.

Goa Investment Facilitation & Promotion Board (Goa-IPB)

The Government of Goa has enacted Goa Investment Promotion Act, 2014 for facilitating single window clearance for investors to invest in Goa. Pursuant to this Act, Goa Investment Promotion and Facilitation Board, a statutory body constituted for speedy clearance of investment proposals of investment above 5 crore.

Handicrafts of Goa

The Goa Handicraft, Rural and Small Scale Industries Development Corporation Ltd (GHRSSIDC) aims at generating self employment through various schemes/training programmes, to Self Help Groups under various schemes. Eligible Women’s are provided with sewing machine, necessary tools etc. for undertaking embroidery and tailoring jobs as self employment.

Khadi & Village Industries

The Goa Khadi and Village Industries Board is a statutory organization engaged in the promotion of Village Industries and other activities under the purview of the Khadi & Village Industries Commission, Mumbai. The Schematic funds for the implementation of the various schemes are provided by KVIC, Mumbai.

Mining Industry

The State looks after the work of mineral administration of Major and Minor Minerals which involves grant, renewal of Reconnaissance permits, Prospecting licenses and Mining leases within the ambit of Mines and Minerals Development and Regulation Act (MMDR Act). So also Quarrying leases which are granted and renewed under the Goa Minor Mineral Concession Rules 1985.

The Government is conducting e-auctions of the mineral Ore stacks lying at the various mines/stack yards. 8 e-auctions have been conducted for 11.38 Million Tonnes of mineral ore from 17/02/2014 till 31/01/2017.

89 Renewal Orders issued of which 87 Mining Lease Deeds are executed amongst whom the adhoc production limit of 20 million tonnes is distributed. After lifting mining ban total 44 Iron ore leases and one Manganese lease started mining operation.

Recent Developments in Industries, Mines, Employment & Information Technology

Utmost thrust is given to bring environment friendly clean, green and locally sustainable industries which are ideally suited for Goa, which would bring huge investment in the State and create large job opportunities for local youth.

With minimizing regulations, Government will emphasize on Ease of Doing Business initiative in the State of Goa and implement business reform action plan in the State to be among top 10 Indian States through an e-governance platform integrating and synergizing all Goa government departments and entities.

Goa IT Investment Policy 2015 on priority to promote local Entrepreneurship, innovation and aggressively market Goa as an ideal destination for startups and mid-sized technology companies through collaborations with established Indian IT states and global brands in technological innovation and funding. In order to promote startups in IT sector, a startup promotion board will be established during this financial year.

There is new proposal to upgrade Goa’s IT Infrastructure-2/”>INFRASTRUCTURE for high-speed broadband connectivity to every corner of Goa within the next two years.

Apprentice training also needs to be enhanced based on the recent amendments to the Apprenticeship Act. Apprentice training makes the youth to acquire working skills as well as requisite experience in the trade concerned. Government is supporting this scheme through financial and logistic support. The Board established for entrepreneurship training and Skill development will also be tasked to formulate appropriate schemes.

Tourism sector

Goa, a paradise of scenic charm, settled beautifully amidst seas and lush greeneries, is a dream destination of millions of travelers across the globe. The glistening sands, exotic beaches, the architectural splendors of its temples, churches, old houses and rich culture has become a popular global leisure destination which attracts domestic & foreign tourists from all over the globe.

In order to promote Goa as an ideal tourist destination, several initiatives and tourism infrastructure projects were undertaken to augment the carrying capacity of the State. The State received 63.31 lakh tourists in 2016 (January to December) (Provisional) which comprised of 56.50 lakh domestic and 6.81 lakh foreign tourists, compared to 52.98 lakh tourists during the same period in the previous year.

There is a growth of 19.50 % in Tourist arrivals during 2016 as compared to year 2015. As per the data, there is an increase of 19.50 % in the tourist arrivals during 2016 as compared to the increase of 30.55 % in 2015.

Recent initiatives to promote Tourism

In order to protect Galjibaag & Morjim beaches as important marine turtle nesting beach and to accord highest level of protection to this marine turtle nesting sites, a dedicated management master plan has been formulated for protection, conservation and Sustainable Development of these two turtle nesting sites.

To promote environment tourism and to showcase rich diversity of bird in Goa the forest department has organized bird festival at Bondla Wild life century. In order to attract bird twitcher in the State, propose for the festival in the State every year has been made and this year’s festival will be organized at Kotigaon Wild life Century at Canacona.

Government will start Portable toilet facilities and permanent toilets with connected Sewage treatment Plants, initially on all major North Goa beaches so as to further enhance the concept of Swacha Bharat campaign and to provide modern hygiene facilities for the tourists.

The objective of effortless travel and providing excellent experience for the tourists, five double and five single decker hop on and hop off(HOHO) bus Services will be introduced by my Government initially in North Goa tourist circuit during the financial year 2017-18 through GTDC. Similarly, amphibious bus service will be commercially launched by my Government to provide the tourists wholesome experience of Goan Backwaters and to efficiently utilize Inland Waters of Goa for promotion of high end tourism.

Government intends to convert the erstwhile Fort Aguada Jail complex into a monument highlighting Goan Freedom Struggle and will have facilities for a daily Sound and Light laser Show for the tourists.

Tourism in Myem lake has been proposed. Rejuvenate Mayem Lake and construct a Theme Park around it by attracting private investments so as to promote family and hinterland tourism in the area.

The objective of promoting Heli Tourism in the State, provsion to to construct a mini helipad at the existing helipad located at Dhauji, Old Goa is provided. This will generate jobs for the local youth and promote high end tourism facilities.,

Goa is a state in western India with coastlines stretching along the Arabian Sea. Its capital is Panaji, formerly known as Panjim. Goa is a popular tourist destination, known for its beaches, churches and nightlife.

The economy of Goa is based on agriculture, tourism, and manufacturing. Agriculture is the main source of employment in Goa, and the state is a major producer of rice, cashew nuts, and coconuts. Tourism is also a major contributor to the economy, and Goa is one of the most popular tourist destinations in India. The state is home to a number of historical and religious sites, as well as beautiful beaches. Manufacturing is also a significant sector of the economy, and Goa is home to a number of factories that produce textiles, chemicals, and electronics.

Agriculture

Agriculture is the main source of employment in Goa, and the state is a major producer of rice, cashew nuts, and coconuts. Rice is the most important crop in Goa, and the state is one of the largest producers of rice in India. Cashew nuts are also a major crop in Goa, and the state is one of the largest producers of cashew nuts in the world. Coconuts are also an important crop in Goa, and the state is one of the largest producers of coconuts in India.

Animal Husbandry

Animal husbandry is also an important sector of the economy in Goa. The state is home to a number of cattle, buffalo, and goats. Cattle are used for milk production, buffalo are used for milk and meat production, and goats are used for meat production.

Fisheries-2/”>Fisheries

Fisheries is also an important sector of the economy in Goa. The state has a long coastline, and the fishing industry is a major source of employment. The state is a major producer of fish, prawns, and crabs.

Handicrafts

Handicrafts are also an important sector of the economy in Goa. The state is home to a number of skilled artisans who produce a variety of handicrafts, including woodcarvings, metalwork, and textiles.

Mining

Mining is also an important sector of the economy in Goa. The state is home to a number of mines that produce iron ore, manganese ore, and bauxite.

Manufacturing

Manufacturing is also a significant sector of the economy, and Goa is home to a number of factories that produce textiles, chemicals, and electronics.

Tourism

Tourism is also a major contributor to the economy, and Goa is one of the most popular tourist destinations in India. The state is home to a number of historical and religious sites, as well as beautiful beaches.

Trade

Goa is a major trading partner of the United States, and the state exports a variety of goods, including fish, cashew nuts, and handicrafts.

Commerce

Goa is a major commercial center, and the state is home to a number of banks, insurance companies, and other financial institutions.

The economy of Goa is a diverse and vibrant one, and the state is a major contributor to the Indian economy.

What are the main industries in Goa?

The main industries in Goa are tourism, manufacturing, and agriculture.

What are the main exports of Goa?

The main exports of Goa are iron ore, manganese ore, and cashew nuts.

What are the main imports of Goa?

The main imports of Goa are petroleum products, machinery, and food.

What is the trade balance of Goa?

The trade balance of Goa is negative, meaning that the value of imports is greater than the value of exports.

What are the main trading partners of Goa?

The main trading partners of Goa are India, China, and the United States.

What are the main challenges facing the trade and commerce sector in Goa?

The main challenges facing the trade and commerce sector in Goa are infrastructure, Bureaucracy, and competition from other states.

What are the government’s plans to address the challenges facing the trade and commerce sector in Goa?

The government’s plans to address the challenges facing the trade and commerce sector in Goa include improving infrastructure, reducing bureaucracy, and promoting investment.

What are the opportunities for foreign investment in the trade and commerce sector in Goa?

The opportunities for foreign investment in the trade and commerce sector in Goa are significant. The state has a young, educated workforce, a low cost of living, and a strategic location.

What are the risks associated with investing in the trade and commerce sector in Goa?

The risks associated with investing in the trade and commerce sector in Goa include political instability, Corruption, and a lack of skilled labor.

What are the best practices for investing in the trade and commerce sector in Goa?

The best practices for investing in the trade and commerce sector in Goa include partnering with a local company, conducting due diligence, and obtaining legal advice.

Goa is a state in western India. It is the smallest state in India by area and the fourth-least populous state. Goa is located on the west coast of India, bordering the state of Maharashtra to the north and Karnataka to the east and south. The Arabian Sea lies to the west of Goa.
Goa was a Portuguese colony for over 450 years, from 1510 to 1961. It was the first European colony in India. Goa was granted independence from Portugal on December 19, 1961.
Goa is a popular tourist destination, known for its beaches, nightlife, and casinos. The state is also home to a number of historical and cultural sites, including the Basilica of Bom Jesus, a UNESCO World Heritage Site.
The Official Language of Goa is Konkani. English is also widely spoken.
The currency of Goa is the Indian rupee.
The capital of Goa is Panaji.
The Population of Goa is over 1.4 million.
The majority of the population of Goa is Hindu.
The Literacy rate in Goa is over 80%.
The economy of Goa is based on tourism, agriculture, and manufacturing.
The main exports of Goa are fish, iron ore, and manganese ore.
The main imports of Goa are petroleum products, machinery, and chemicals.
The main trading partners of Goa are the United States, the United Kingdom, and the United Arab Emirates.
The main Ports of Goa are Mormugao Port and Vasco Da Gama Port.
The main Airports of Goa are Dabolim Airport and Goa International Airport.
The main roads in Goa are the National Highway 17 and the National Highway 4A.
The main railway stations in Goa are Margao Railway Station and Vasco da Gama Railway Station.
The main tourist attractions in Goa are the beaches of Anjuna, Baga, Calangute, and Colva; the Basilica of Bom Jesus; the Fort Aguada; and the Chapora Fort.
The main festivals in Goa are the Shigmo Festival, the Goa Carnival, and the Feast of St. Francis Xavier.
The main cuisine of Goa is Goan cuisine, which is a fusion of Portuguese and Indian cuisine.
The main dishes of Goan cuisine are vindaloo, xacuti, and sorpotel.
The main drinks of Goa are toddy, feni, and beer.
The main Sports in Goa are football, cricket, and volleyball.
The main football clubs in Goa are Dempo Sports Club, Salgaocar Sports Club, and Churchill Brothers Sports Club.
The main cricket teams in Goa are Goa cricket team and Goa women’s cricket team.
The main volleyball teams in Goa are Goa men’s volleyball team and Goa women’s volleyball team.
The main universities in Goa are Goa University, Goa Engineering College, and Goa Medical College.
The main schools in Goa are the Don Bosco School, Panjim; the St. Xavier’s High School, Mapusa; and the Our Lady of the Rosary High School, Margao.
The main hospitals in Goa are the Goa Medical College Hospital, Bambolim; the Goa Institute of Medical Sciences, Bambolim; and the Hospicio Hospital, Margao.
The main newspapers in Goa are the Herald, the Navhind Times, and the Gomantak Times.
The main television channels in Goa are the Zee Marathi, the Colors Marathi, and the Star Pravah.
The main radio stations in Goa are the All India Radio, the Red FM, and the Radio Mirchi.
The main websites in Goa are the goa.gov.in, the goatourism.gov.in, and the goa.com.
The main airlines that fly to Goa are Air India, Jet Airways, and IndiGo.
The main hotels in Goa are the Taj Exotica Resort & Spa, the Cidade de Goa, and the Le Meridien Goa.
The main restaurants in Goa are the Tito’s, the Baga Beach Shack, and the Britto’s.
The main bars in Goa are the Tito’s, the Curlies, and the Bogmalo Beach Bar.
The main clubs in Goa are the Tito’s, the Curl