Economy of Goa

The economy of Goa is well supported by numerous methods. Some of the things that boost the economy of Goa are agriculture, business and commerce, electronic and IT industry, fisheries, mining and tourism.

Agriculture:Though for its day-to-day needs of agricultural produce like vegetables, etc., Goa is dependent on the neighbouring states of Karnataka and Maharashtra, Goa however yields substantial amounts of paddy, followed by other cereals such as small millets and pulses. The main plantation crops of Goa are coconut, areca nut, cashew and garden crops like mango, pineapple, jackfruits and bananas.

The government, however, has done much to improve and develop agriculture in Goa to make it more productive, thus enabling the farmers to get a better return for their labor. Rice and fish being the staple diet of the people, paddy becomes the principal crop in the scenario of agriculture in Goa. The important crops, apart from paddy, are ragi, maize, jowar, bajra and pulses. Cash crops like coconut, cashew-nut, arecanut, mango, jackfruit, banana, pineapple are also grown in abundance. Cashew is an important crop in Goa. A kind of intoxicating drink called Feni is produced from cashew. Sugarcane cultivation has been taken up only recently and a sugar factory has also been set up in Goa. A variety of mangoes are grown in Goa. Some of the famous Mango varieties are mancurade, mussarade, fernandine, xavier, alfonsa, colaco. There are two varieties of jackfruit grown here namely kapo (hard) and rasal (soft).

Paddy being the principal crop of Goa, it is grown in two seasons, namely Kharif or sorod and the rabi or vaingan. The monsoon crops are called the kharif crops and the winter crops are called rabi crops. The main sources of irrigation for winter crops are the nallahs, rivers and streams, tanks, wells and canals. Crops grown in the Kharif season consist of paddy, ragi (locally called nachani) and some pulses. Crops grown in the rabi season are comprised of paddy, pulses like horse-gram (kulith), black gram (udid), a variety of beans and some vegetables.

The Goa Chamber of Commerce & Industry was established in 1908 as “Associacao Commercial da India Portuguesa”. It is situated at Goa Chamber Building, Rua de Ormuz, Panaji. It is active in helping Goan industries to face the challenges of a competitive market economy by identifying new markets for local products. It helps in implementing favorable industrial policies and educating its members in various commercial, industrial and other related legislations.

Goa has a coastal line of about 105 kms and inland water ways up to 250 kms. Having such an abundance of water-bodies, marine life and sea food are found in abundance. So the fishing industry provides is a major strength to the economy of Goa. Besides, strengthening the economy, it provides employment to a large number of people in Goa. The fish marine catch in 1998-99 is estimated at 65,841 tonnes valued at Rs. 9,029 lakhs.

Goa is a tourist destination where people flock to from all across the globe. The basic image that most people get of Goa is not the same as what they get about any other state in India. Today Goa invokes the image of stretches of beaches with prancing holiday-hoppers. The boom of Goa tourism caught up from the Hippy era onwards.

In the 60’s the virgin beaches and beckoning palms of Goa allured the ecstasy and cheap dope seeking Hippies to its coast. They carried back tales of this ‘new-found land’s’ unspoilt beauty. From then on began Goa’s romance with the holiday-hoppers.

Moreover, Goa as a tourist destination goes beyond its beaches. Tourism in Goa thrives due to the cultural aspect of the state as well. Goa has had such a chequered past that its myriad aspects keep visitors coming back for more. Its Gothic churches, ruined and flourishing temples, pristine beaches, cultural festivals and not to forget its unique and mouth-watering cuisine, all make tourism in Goa a thriving industry. Get details about Goa Tourism and Read more detailed information about Christmas in Goa.