Goa is in western India along the Arabian Sea, featuring stretching coastlines. It has a useful sea network. Goa has 17-century churches revealing the Portuguese colony’s long history. This state is abundant with tropical spice plantations. It has acquired popularity due to its beaches and its long stretches, besides the laid-back fishing villages.

Goa state shares its borders to the north with Maharashtra, to the east and south with Karnataka, and the west is the Arabian Sea. It is known to be a tourist paradise traditionally for its unique beaches, natural scenery, and cultural diversity.

Goa has social, industrial, and physical infrastructure. This state is well-developed in its virtual connectivity and relies very much on foreign exchange that helps fuel the resort's growth and the beautification of the state, hotels, and tourism-related businesses. The Goa state is blessed with mineral resources, namely Bauxite, Manganese ore, and iron ore. 

The economic activities in this state majorly include tourism, agriculture, and mining. The revenue sources encompass iron exports, fisheries, tourism, and manufacturing industries.  The Mormugao Port is the major port and a profitable one. It is the oldest port and accounts for iron ore export to around 50%.

The economic growth of industrial sectors is driven by strong performances of agriculture, fishing, pharmaceuticals, and tourism. Goa installed 608.28 MW capacity power generation, from which 559.94 MW accounts for a significant share of the installed capacity, while 26 and 20.34 MW are the nuclear and renewable energy contributions. It is one of the Indian states to get rural electrification to 100%.

List of the state schemes to start a new manufacturing unit

Goa is on the southwestern coast and is a tourist paradise bordered by rivers and scenic locations. The Goa soil is loamy and alluvial making it favorable for the coastline. It contributes to fisheries and agriculture.

The crops cultivated are areca nut, cashew, rice, coconut, and more. It is abundant in mineral reserves such as clay, iron, limestone, bauxite, etc. Thus, the second-largest industry is mining after tourism. The prominent sectors contributing the Goan economy are pesticides, fertilizers, chemicals, tires, tubes, pharmaceutical, and footwear industries. 

The tourism industry income is mainly due to international and local tourists arriving respectively. 

Business loan schemes by the state government

Popular business startup schemes offered by the state Government facilitate budding entrepreneurs. 

  • Mudra loan under PMMY (Pradhan Mantri Mudra Yojana) provides non-farm, non-corporate, micro, and small enterprises finance. The public and private sectors and other financial institutions give this loan by applying online or by approaching lending institutions. The Mudra loan is widely used by startups, small-scale businesses, MSMEs, and business owners.
  • Anyone 18 to 65 years can apply for this loan, ensuring no repayment default history.
  • The segment of (NCSB) non-corporate small businesses comprises MSMEs, individuals, and sole enterprises in urban and rural areas. The NCSBs are:
    • Shopkeepers
    • Small manufacturing units
    • Small industries
    • Food-service units
    • Service sector units
    • Artisans
    • Food processors and entities