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Export Potentials Goa

Goa’s Macroeconomic Profile

Gross State Domestic Product at Factor Cost by Industry of Origin from
2004-05 to 2011-12 (Q) at Constant Prices (2004-05 Prices)
Total Gross State Domestic Product (GSDP)12,71,33113,67,16215,04,17215,87,53817,46,61819,24,82821,20,18823,09,682
Population 00?14,29014,74015,17015,68016,29016,91017,49017,990
Per Capita Income in Rs.88,96692,75299,1541,01,2461,07,2201,13,8281,21,2231,28,387
  • At current prices, Goa's gross state domestic product (GSDP) was about US$ 7.5 billion during 2011-12.
  • The GSDP grew at a compound annual growth rate (CAGR) of 16.0 per cent over 2004-05 and 2011-12.
  • Goa's economic growth is driven by the strong performance of industrial sectors such as mining, tourism and pharmaceuticals.
  • Goa's net state domestic product (NSDP) was about US$ 6.3 billion over 2011-12.
  • The NSDP grew at a compound annual growth rate (CAGR) of 15.5 per cent over 2004-05 and 2011-12.
  • The state's per capita GSDP was US$ 4166.3, one of the highest in India, over 2011-12.
  • Goa's per capita GSDP increased at a compound annual growth rate (CAGR) of 12.3 per cent between 2004-05 and 2011-12.
  • The state's per capita NSDP was US$ 3,501.0, one of the highest in India, during 2011-12.
  • Goa's per capita NSDP increased at a CAGR of 11.8 per cent between 2004-05 and 2011-12.
  • During 2011-12, the tertiary sector accounted for 46.2 per cent (US$ 3.4 billion) of GSDP, followed by secondary (30.1 per cent; US$ 2.2 billion), and primary (23.7 per cent; US$ 1.7 billion).

About 54 per cent of total geographical area of Goa is utilised for cultivation. More than 80 per cent of the total cropped area is used for the cultivation of rice, coconut and cashew crops. About 18 per cent of the land is used for growing fruits, cereals and vegetables. A very small but growing proportion of the land is being used for the cultivation of arecanut, pepper and oil palm. The Government facilitates agricultural activities through easy availability of credit, provision of high-yielding seeds, availability of irrigation facilities and power supply, marketing assistance, etc.

Agricultural Production
CropAnnual production
2012-13 (in tonnes)^
Cashew nut29,950

Source: Economic Survey of Goa, 2012-13, *As of 2011-12, **Million nuts, ^Second advanced 

The state has a flourishing marine industry attributed to its 104 km long coastline and inland waterways of about 255 km. Fish production is mainly done by a few large scale fishermen, who not only have a large fleet of mechanised boats but also have branched into processing of the fish. Traditional fishermen are small players in the market. About 85-90 per cent of the fish obtained in Goa finds its way to the local markets (institutional and retail) and the markets of neighbouring states. A meagre 10-15 per cent of the fish produced in Goa is exported.

The population of nearly 3,000 livestock and 80,000 cattle in Goa ensures adequate and wholesome quantity of meat, milk and milk products for the human population of the State.

Goa has large number of mineral deposits like iron ore, manganese ore, bauxite, high magnesia, silica sands, limestone and clay. Iron ore is available in abundant quantities at about 745 million tonnes. Out of the State's total surface area of 365,563 ha, about 2 per cent of the total surface area of Goa is engaged in mining. The mining sector employs a workforce of 35,000 with a dependant population of about 1.5 lakh. The sector is governed by multiple ministries at the Central and State level namely the State Directorate of Mines, the Central Ministries of Mines, Indian Bureau of Mines, the Central Directorate of Mines Safety, etc.

Production of Minerals in Goa: 2000 to 2005 (in metric tonnes)
Ore Type2000-012001-022002-032003-042004-05
Iron oreN.A.1,66,98,00020,689,0002,20,95,0002,33,08,000
Manganese ore groups95,51595,14132,45149,05019,786

Source: Goan Iron Ore Industry

The mining sector's stakeholders are essentially the government, the industry and the community. The government is focused on revenue, employment and foreign exchange earnings, they are also responsible for safeguarding the environment, the safety and the welfare of the community and the progressive expansion of the industry. The industry is essentially focused on generating adequate returns from their capital investment. The community looks for employment and an improved quality of life.

It is a well-accepted fact that open cast mining has adverse effects on the environment, impacting the quality of land, air, water and forest resources. Mining damages and alters the skyline, degrades the soil in surrounding areas especially during the monsoons when the runoff from stockpiles, overburdened dumps find their way into the neighbouring agricultural fields.
Stacking sites at the river loading points also pose problems of material being washed into the river during the monsoon. However, the Government and industry have been taking action to address these problems. Retaining walls are built around dumps and dump surfaces are planted with grasses and other suitable planting material.

The state of Goa does not have a long history of industrialisation. 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.

Small scale units form a significant part of industrial growth in Goa.The small scale sector comprises food processing, fruit processing, metal products, wood products, paper products and printing, rubber, plastics and petroleum products, non-metallic mineral products, other chemical products, electrical machinery and appliances, textile products, basic metals and alloy units, transport equipments, machinery tools and parts, leather and jute products, etc. As on 31-10-07, Goa had 7119 small scale industrial units providing employment to nearly 49 thousand persons.

As on 31-10-2007, Goa had 209 medium and large scale industrial units. The large and medium scale sector comprises food products and beverages, soya processing, breweries, agro-oils, flour mills, slaughter houses and meat processing units, sugar mills, chemical units like cement plants, fertilisers, industrial gases, mineral-based industries, ore beneficiation plants, potassium permanganate, insecticides, pharmaceutical formulations, ophthalmic lenses, basic metal and alloy units like pig iron plants, steel ingots and rolled products, ferrous and non-ferrous alloys, aluminium tubes, various types of petroleum-based industries like plastic products, PVC bottles, laminated products, films, automobile components, fibre-glass-based products, rubber products, electrical machinery and appliances like fans, motors, generators, washing machines, resistors, batteries, PCBs, telecom products like electronic exchanges, lamps, wire communication systems, floppy discs, building materials, cotton spinning, shipbuilding, repairing and general engineering, high precision activities like jewel bearing, diamond drilling, etc.

As per the Annual Survey of Industries conducted by the Directorate of Planning, Statistics and Evaluation, Government of Goa, during the year 2001-02, the top four industry groups with respect to total persons engaged were chemical and chemical products (27.80%), food products and beverages (14.07%), basic metals (10.72%) and rubber and plastic products (7.26%).

The workforce in Goa is well-known for the following attributes-productivity, technical skills, English proficiency, dedication and hard work.

The social infrastructure in Goa is among the best in the country. A high social index is indicative of the stage of development of the state. Low crime rate, good health care facilities, excellent education system, good quality of life, etc., are positive signs for the industry.

The Government of Goa has designed the New Industrial Policy 2013 with the objective of promoting local entrepreneurship, local employment opportunities, consumption of local raw materials and improving export markets thereby establishing long term sustainability in the economy. Vision for the Policy is to:

  • Sustain growth momentum of Goa's economy
  • Recognise Goa as a peaceful and friendly investment destination
  • Strike a balance between development of industries and protection of environment and natural resources
  • Create employment opportunities for the locals
  • Promoting the MSME sector with special incentives and privileges
  • Strengthen the agrarian economy
  • The Department of Industries, Trade and Commerce is the regulatory body of the industries in the state of Goa.
  • The Goa Industrial Development Corporation works towards securing and assisting in the rapid and orderly establishment of industrial estates in Goa.
  • The Economic Development Corporation of Goa, Daman & Diu Limited (EDC), incorporated on 12th March, 1975 as a public limited company under the Companies Act, 1956, has been the state financial institution set up by the Government of Goa with the prime objective to promote industrial development.

Goa is traditionally known as a tourist paradise for its natural scenery, unique beaches, cultural diversity and places of worship. The administration of tourism in Goa lies with Minister for Tourism, Goa Tourism Development Corporation and the Travel & Tourism Association of Goa.

As per the Tourism Satellite Account by the Government of India, tourism-related employment (both direct and indirect) in the state of Goa is estimated at 8.27 per cent of the total employment which is expected to rise in the coming years.

Tourist Visitors in Goa ('000 persons)

Percentage y-o-y growth-

Source: Tourist Statistics, Government of Goa, P: Provisional

Goa's beaches cover about 125 kilometres of its coastline. These beaches are divided into North and South Goa. North Goa has abundance of mostly low and medium budget tourist accommodations whereas South Goa is concentrated with high-end hotels where private beaches are located. Some of the more popular beaches are Colva, Calangute, Baga and Anjuna.

Bondla Wildlife Sanctuary, Bhagwan Mahaveer Sanctuary and Mollem National Park, Cotigao Wildlife Sanctuary, Mhadei Wildlife Sanctuary and Netravali Wildlife Sanctuary harbour Goa's rich bio-diversity. Foxes, wild boars and migratory birds are also found in the forests of Goa. The avifauna includes kingfishers, mynas and parrots. The famous Dudhsagar Falls, India's fifth tallest at 310 metres, is located inside Bhagwan Mahaveer Sanctuary at the Goa - Karnaraka border.

The noteworthy museums located in Goa include:

  • Goa State Museum set up in 1996 which aims at centralising and preserving antiquities, art objects and objects of cultural importance, depicting the different aspects of the Goan History and Culture.
  • Naval Aviation Museum, the aviation museum near Dabolim.
  • Goa Science Centre located on Miramar Beach in Panjim houses wonders of Science and Astronomy.
  • Archaeological Museum and Portrait Gallery located in Old Goa run by the Archaeological Survey of India.
  • The Museum of Christian Art having a number of paintings, sculptures and religious silverware dating back to the 16th century.

The landscape of Goa is dotted for its historic forts namely Fort Tiracol, Fort Aguada, and Chapora Fort to name a few.

Infrastructural status

Public infrastructure is the key driving force for growth. Commonly recognised public infrastructures are roads, railways, ports, hospitals, markets, telecom, water and electricity delivery systems, sewage and waste removal and recycling systems.

Amongst emerging public infrastructure are broadband services, educational and sport parks, urban parks, industrial parks, residential parks, entertainment and tourism parks and energy parks.

By virtue of its location and geography, Goa is in a position to integrate air, sea, rail and road travel and therefore, present a series of logistic advantages to interstate and international travel of passengers and cargo. It is in a position to become the hub of people and material movements on the western coast and even take on the traffic that Mumbai cannot handle. As the international hub, it can then create domestic linkages to points of vantage.

Goa's multi-modal possibilities have not been exploited and currently there is no integration of passenger or goods movements on different modes.

Goa is connected to all major towns of Maharashtra and Karnataka and the rest of India through the National Highway network: NH 4A, NH 17 and NH 17A. There are 13 National Highways in the hinterland of Mormugao Port passing through the three states of Goa, Maharashtra and Karnataka. Out of the 13 National Highways passing through the hinterland states of Goa, Maharashtra and Karnataka, only 3 National Highways pass through the state of Goa. The important National Highways which connect Goa are:

  • NH 4A Belgaum-Anmod-Ponda-Panaji.
  • NH 17 Panvel-Mahad-Panaji-Karwar-Mangalore- Cannanore-Calicut-Ferokhkuttipuram-Pudu, Ponnani-Chowghat-Cranganur-Junction with NH 47 at Edapally.
  • NH 17A Junction with NH 17 near Cortalim-Mormugao.

Goa is connected with Bangalore, Mumbai, Delhi, Mysore and Pune via Londa junction on the Miraj Bangalore sector of the South Western Railways. The current length of this railway network in Goa is 79 kms. The railway station at Vasco in Goa is situated at about 4 kilometres distance from Mormugao Port.

Apart from this, the Konkan Railway with a 105 km stretch in Goa merges with the South Western Railways at Majorda. The Konkan Railway has been a catalyst for the increased tourist influx into Goa, however, the port has not been able to fully exploit this rail network for increasing its throughput.

Goa is blessed with a good navigable river system throughout the state. These river networks are primarily used for transporting ore. About 80 per cent of the cargo through-put through Mormugao Port is moved through, these river networks. Goa has a total of 353 kms of navigable waterways, of which 253 kms are navigable by large crafts.

The river system in Goa consists of the rivers Mandovi, Zuari, Tiracol, Chapora, Talpona, Sal and Galgibaba rivers. The main rivers which are used for transportation of ore to Mormugao Port are the Mandovi and Zuari. There is also a link between these two rivers by means of the Cumberjua canal which allows the diversion of traffic from the Mandovi towards Mormugao Port.

The Mandovi and Zuari rivers alongwith the Cumberjua canal offer a good transportation system for iron ore export. A large number of privately owned self propelled barges of capacities varying from 200 to 2,000 tonnes ply on this river system. The iron ore handled at the port is shipped through barges on waterways. There are more than 30 loading jetties located along the river in mining areas. The ores are transported from the mines to the loading points by road.

Goa has one airport situated on the Dabolim plateau, which precipitously drops in the Arabian Sea. It has locational advantage. It is near the midpoint of the North and South Goa axis, thus providing equal access to passengers and cargo traffic wanting to get to North Goa and South Goa, and for passengers and cargo traffic from North Goa and South Goa wanting to get to the airport.

Despite being a small state with a population of 13 lakhs (0.16 per cent share of India's population), the airport in Goa is the 9th largest in the country accounting for 2 per cent of the air traffic in India.

Almost 80 per cent of the hospitals in Goa are in the private sector accounting for just 45 per cent of the total beds. In addition to the hospitals mentioned above, the health infrastructure also includes 1 dental college, 1 college of pharmacy, 1 nursing school, 1 homeopathy college and hospital and 1 ayurveda college and hospital.

 The present health infrastructure in Goa in terms of number of hospitals, beds and doctors is adequate and can sustain the population. However, the facilities in the hospitals need urgent upgradation and augmentation in order to cope with the new pressures and demands on health services delivery in the State.

The expansion of the banking infrastructure in Goa has been quite remarkable. In 1962, there were only five bank branches operational in Goa. This has increased to 300 branches at the time of statehood in 1987 and stood at 456 in 2002-03. The fastest expansion over the last two decades in the banking sector has evidently been in the cooperative sector which saw a three-fold increase in the number of branches. However, in terms of absolute number of additional branches opened, it is still the commercial banking segment that dominates the scene.

Communication services and information technology are the driving forces for the economy of Goa. Given the high per capita income it has seen a high consumer demand for telecommunication services and Internet facilities. The rapid strides of technology in India has seen a big boom in the telecom sector. Thanks to the government's policy and the cyberage scheme to give computers to students, computer penetration is the highest in the state at 40 computers per 1000 persons as against 8 per 1000 as the national average.

Iron ore export
The Goan Iron Ore is 100 % export oriented. Iron ore exports commenced in the late 40's with around 30-40 thousand tonnes of iron ore exported through Mormugao Port. The last decade however showed an average export of 32 million tonnes of iron ore.
Initially, Mormugao Port was the only outlet for the export of ore. While iron ore exports from the rest of the country have to be canalised through the MMTC with the exception of Kudremukh Iron Ore Ltd., the Goan mine owners are permitted to make direct shipments to Japan, China, South Korea, Taiwan, Middle East, Pakistan and Europe.
The Goa Mineral Ore Exporters' Association closely monitors shipments' grade and price and other parameters. All the direct Iron Ore exports of Goan Origin contracts are registered with this Association.

 Fisheries Export

Goa has a large scope for fisheries production given its vast coastline and nine inland water reservoirs. Annual marine fish production of Goa is over 60,000 tonnes and production from inland waters is about 2,000 tonnes. Goa's excess marine production as compared to its consumption is exported constituting 2.01 per cent of the national fisheries export. Important fish varieties exported from Goa comprise of shrimps, squids, cuttle fish, breams, ribbon fish and mackerel. Main importers of Chinese fisheries include China, Japan, Malaysia, Hongkong, Gulf nations, etc.

Trade and Commerce Promotion Bodies of Goa

Goa State Industries Association

The Goa State Industries Association works towards providing effective leadership to its members through best business practices, execution capabilities for improvement of quality, cost and delivery. It works towards creating an educated workforce with knowledge and skill sets. It facilitates policies conducive to the growth of its stakeholders and the State.

Aims and Objectives

  • To promote the development of small & tiny industries in the State of Goa and attempt to bring every SSI unit within its membership fold.
  • Liaison with the Government.
  • To undertake Legal, Technical and Management Consultancy Service for the benefit of the members and the public at large.
  • To cooperate with various other organizations in the collection and exchange of information to small, medium & large industries and public at large.
  • To cooperate with other small industries, associations, or federations in India & to get affiliated to any other national body, if considered necessary.
  • To initiate discussions with Goa Industrial Development Corporation on all matters pertaining to Water, Power, Hygiene, Pollution Control etc. and matters affecting public, civic interest & the society at large.
  • To promote/ establish good neighbourliness with villages & towns in the vicinity of the member industries and to extend wherever possible help for the development of these villages.
  • To reach out to all our members with important information on notifications, circulars, schemes, trade fairs etc. from time to time.

The Travel and Tourism Association of Goa is the apex body representing the Hotel & Travel Trade in Goa. The Association is a non-profit, non-Governmental organization dedicated to furthering the cause of healthy and positive tourism in Goa. Its members consist of Hoteliers, Travel Agents, Tour Operators, Airlines and other allied bodies. The Association is also active towards protecting the interests of Goa as a whole and more specifically as a premier destination in South East Asia.

Goa Economics Association is a forum of teachers, researchers, industrialists, administers and policy makers from the state of Goa to promote economics, trade and commerce of the state.

Goa Economic Association organized an international seminar on the theme "Emerging Challenges and Prospect of Indian Economy" in association with Indian Economic Association and Department of Economics, Goa University on 4th and 5th October 2013.

The Goa Regional Business Association works towards developing and enhancing opportunities to create business relationships by connecting its members with prospective vendors.
It engages leaders within its membership and regional business community to identify and explore opportunities in Goa's trade and business.

The association monitors and evaluates programs and services to meet the needs of small, medium and large businesses and organizations. It fosters individual and professional growth to drive personal and business success. Also, the association collaborates and expands relationship with regional organizations to support further economic development.

The International Centre Goa (ICG) is a non-profit autonomous society founded in June 1987, under the Societies Registration Act, 1860. In a span of 17 years, ICG has emerged as the hub of socio-cultural activities, political dialogue, economic debates and a variety of programmes ranging from film festivals, exhibitions, workshops, concerts, plays, to quiz, painting competitions and even social evenings. Talks and workshops on Journalism, Global Terrorism, Women's Reservation Bill, Good Governance, Pottery & Origami Workshops, Art Camps & Exhibits, Waste Management, Acting and Scriptwriting and National and International Seminars on subjects like Right to Information, Human Development, Coastal Regulation Zone Draft Policy, Goa Regional Plan, Women in Media, and The South Asia Media Summits are organised throughout.

The International Centre Goa in association with Goa Writers' Group organised programmes to culminate the Annual Goa Arts & Literary Festival which was scheduled from 5th to 8th December 2013.

Goa Chamber of Commerce & Industry is Goa's premier non-profit business, support-services and networking organisation. The Chamber is a liaise between the SME's, Corporate Organisations and Government bodies. The aims and objectives of the chamber are as under:

  • To encourage and promote a friendly feeling and unanimity among businessmen and industrialists on all subjects involving their common good and in general, interests of the state and the country.
  • To promote and protect interests of trade, commerce, and industry.
  • To collect and circulate information and statistics on various matters of general, commercial and industrial interest.
  • To obtain the removal of all acknowledged grievances affecting mercantile and industrial interests.
  • To deal suitably with legislative and other measures affecting the business and industry.
  • To communicate with government and other public authorities, with similar associations in other places and with individuals on all subjects of general mercantile and industrial interests.
  • To arbitrate in the settlement of disputes arising out of commercial transactions.
  • To co-operate with any other association with similar objectives and exchange relevant information.

Events organised in Goa

International Film Festival of India

 IFFI (International Film Festival of India) is one of the most prestigious Film Festivals of India. Coming a long way from the first Indian International Film Festival of India held in Bombay in 1952, the festival today has earned its own place after the Paris based Federation International des Associations de Producteurs de Film (FIAPF) awarded official recognition to the Indian festival in 1963, putting it at par with that of Cannes, Berlin, Venice and Toronto. Directorate of Film Festival (DFF), Entertainment Society of Goa (ESG) and Press Information Bureau (PIB) jointly organized the festival. Held permanently in Goa since 2004, this ten days festival is attended by high profile top-notch bollywood personalities and world famous international celebrities. During the ten days period, both international and Indian films are screened and awards like Golden Peacock awards, Silver Peacock awards and Special Jury Prizes are given. The IFFI festival is a perfect platform for promoting Indian films and world cinema as a whole.

Goa International Trade Fair is an exhibition with high quality atmosphere and facilities. The Trade Fair is organized in cooperation with Media Promotions Pvt. Ltd., Arabian Exposition Dubai, International Chambers & Commerce and members of Dubai Chamber of Commerce and Industry. People related to home electronics, appliances, bathroom items, furniture, manufacturers, importers and exporters of kitchen wares, general gifts, home decoration, home repair items, sports & health items, personal accessories and leisure items visit Goa International trade fair. Manufacturers, exporters, importers and suppliers of Hardware and Tools, Building and Construction Material, Printing and Packaging, Safety and Security, Electrical and Lighting, Hospital Products, Agricultural Products and Equipment, Hotel Supplies, Consumer Electronics, Home Appliances, Satellite and Broadcasting, Telecommunication, Office Equipment and Furniture, Computers and Peripherals, Textiles, Garments, Cosmetics, Shoes, Pharmaceuticals and Healthcare, Kitchen and Household Products, Perfumes and Jewellery play exhibitors at the Goa International trade fair.

The Goa Carnival festival is held every year in the month of February and lasts for three days. It is one of the eagerly awaited events of the year. The Carnival of Goa is the time to indulge in feasting, drinking and merry making. Although it is primarily a Christian festival, it is celebrated by people of all religions and culture with the similar enthusiasm.
Goa Carnival was introduced by Portuguese, who ruled over the state for more than 500 years. People from different parts of the country come to Goan Carnival to take part in the revelry. The carnival starts with a magnificent display of colourful floats. The celebrations are also accompanied by a prize distribution ceremony, where the best floats are adequately rewarded. Floats, colossal parades, bands, balls and dances together symbolize the Goa Carnival. Goa Carnival ends with the popular red-and-black dance held by the Club National in Panaji.

Konkan Fruit Fest is a unique festival held for three days at the Campal heritage precincts, Panjim. It is an exhibition-cum-sale of special fruits from the Konkan region. A number of research institutes like the Indian Institute for Horticultural Research, Konkan Krishi Vidyapeet, Vengurla, and Directorate of Horticulture, Karnataka participate in the Konkan Fruit festival. Other attractions of this festival include competitions such as fruit eating competition, fruit carving contest and fancy dress competition. Music and entertainment shows are also the parts of Konkan Fruit festival.

Build Expo India exhibition, one of the largest international construction fairs in India draws a large number of professional visitors from the entire SAARC region. Buildexpo India trade fair hosts seminars, conferences and workshops on various facets of construction technology, innovation and use of eco-friendly resources. Several leading delegates participate in concurrent international conferences based on disaster resistant structures and infrastructure engineering. Architects, Consulting Engineers, Builders, Contractors, Promoters, Property Developers, Project Managers, Interior designers, Distributors, Consumers, Facility Managers, Government Authorities, Town and Urban Planners, Students, and general public were the target visitors of Build Expo India exhibition. Manufacturers, exporters, importers and suppliers of Brick & Block, Concrete, Bathroom Fittings and Accessories, Electrical Systems, Flooring, Doors and Windows, Interior Decoration, Roofing Materials, Facades and Wall Cladding, Sanitary & Plumbing, Paints & Coatings, Earthmoving Equipments, Fire Safety and Security System, Water Treatment, Rain Water Harvesting, Elevators and Escalators, Power Generation, Glass and Ceramics Manufacturing, Tower Cranes, Pre-cast Factory Machinery, Landscaping, and Air-conditioning exhibited at Buildexpo India trade fair.

International Conference & Exhibition on Gaseous Fuels is organized by Oil Industry Safety Directorate of Ministry of Petroleum & Natural Gas, Govt. Of India. About 200 National and International delegates from various Consultants, Contractors, Oil Companies, IOCL, BPCL, HPCL, ONGC, GAIL, RIL, ESSAR, SHELL, OIL, MRPL, CPCL, EIL etc attended the event. The exhibitors comprise of Indian Companies / Overseas Companies & Consultants etc.

The topics covered include Design, Engineering, Operation and Safety aspects of Gaseous Fuels i.e. LPG, Natual Gas, LNG, Hydrogen etc. National and International Experts share their knowledge and experience in the respective areas.

Prospective Strategies for Growth

The study above indicates that Goa's economy is primarily driven by international trade comprising of exports, tourism and events. It is imperative that the economy boost its trade sector to develop its economy. Recommendations are as under:

  1. Formulate a "Export Policy" 

    Exports are an important component of Goa as they have lead to greater capacity utilization, achieving economies of scale of production, incentive for technological improvement and improving the overall trade balance. Besides, exports have helped domestic industries to improve product quality and the organization culture from the marketing angle. In order to give impetus to the economy it is necessary to formulate an "Export Policy" which shall boost the state's revenues and further strengthen the state's position on the industrial map of India.
    The policy should favour export of the agricultural commodities such as the cash crops, the state's marine production and iron ore among others.

  2. International Fests and Events 

    Goa has played host to prominent international events such as the Goa International Trade Fair, International Film Festival of India among others. It is vital that the state promote its tourism sector with an International Tourism Expo which shall invite participation from across the globe thereby integrating Goa with the world economy.

  3. Promote the "WTC Concept" 

    World Trade Centres, as the name indicates, are the hubs for international trade and business. World Trade Centre concept implies bringing under one roof all business knowhow, sources of information and organizations connected with international trade and providing centralized facilities for trade transactions. Essentially, WTC is an effective and unique combination of Infrastructure Facilities on one hand and Knowledge Services on the other hand.

World Trade Centre brings several benefits to the State and the Region it serves. Important among these include interalia:

  1. Presence on the World Trade Map
  2. One Stop Business information
  3. Trade facilitators under one roof
    • Directorate of Export promotion & marketing
    • Export Promotion Councils / Associations / Chambers
  4. A branded address for doing international business
  5. Net-working with WTCS & 1 Million business organizations around the Globe.
  6. Exchange of Information & Knowledge
    • Trade, Business & Investment Opportunities
    • Trade, Business & Investment Opportunities
  7. Visible Increase in Trade Promotion Activities
    • Visits of Foreign Business Delegation
    • Networking meeting with the Dignitaries
  8. State's employment growth increases because of rise in the export opportunities and business.
  9. WTC imparts multiplier effect on the state's economy and improves its efficiency and productivity.

Essentially WTC comprises of following facilities and services:

Infrastructure FacilitiesKnowledge Services
Office SpacesTrade Information
Exhibition CentresTrade Education
Convention & Meeting FacilitiesTrade Promotion
WTC ClubResearch Advisory
HotelTrade Missions
Business CentresNetworking with Overseas WTC'S & TPO'S
Shops / Showrooms / Malls

State has to play a key role in the establishment of a WTC Project. Most of the successful operating WTCS in the world are Public-Private-Partnerships. Therefore, the role of State Authorities becomes crucial and significant in development of a WTC.

Important suggestions regarding the State's involvement with the WTC are identified and indicated below:

  1. State Government should help the WTC developer by signing the Memorandum of Understanding (MoU) for cooperation in setting up of the WTC Project.
  2. State Government should provide a Recommendation Letter to the WTCA for procuring WTC Licence / Option by the developer.
  3. State Government should provide land (at least 5 Acres) to the developer on concessional terms. For example, State Government of Maharashtra has provided 10 acres of land to the World Trade Centre Mumbai on concessional terms, sharing the surplus and nominating 4 directors on its Board.
  4. State Government should help in bringing incentives for infrastructure development for trade available from the Central Government under various schemes.
  5. WTC Developer should bring in necessary investment for construction and market the concept to various investors and users of trade services. State Government should locate its agencies promoting international trade in the WTC Complex.
  6. State Government should actively support and participate in the WTC events and activities thereby gaining benefits for the State. It should locate its trade-oriented agencies in the WTC Complex.