For updated information, please visit www.ibef.orgMarch 2021

FORT AGUADA IN CANDOLIM, GOA

GOA

2

Executive Summary 3

Introduction 4

Economic Snapshot 9

Physical Infrastructure 15

Social Infrastructure 23

Industrial Infrastructure 26

Key Sectors 29

Key Procedures & Policies 33

Appendix 42

Table of Contents

3

Executive summary

1

2

3

India’s major fish producer Goa is one of the key fish producing states in India. Marine fisheries provides livelihood to numerous people in

the state.

The government aims to make Goa a fisheries hub by developing the fishing infrastructure in the state.

Goa is one of the fastest-growing states in the country. At current prices, Goa’s Gross State Domestic Product(GSDP) stood at Rs. 815.02 billion (US$ 11.14 billion) in 2020-21.

Strong economic growth

The Mormugao Port handled 19.29 MT of cargo between April 2020 and February 2021.

The port has numerous infrastructure developments in pipeline, ranging from developing a domestic andinternational cruise terminal to creating a commercial hub within the terminal building, in the pipeline.

Mormugao Port reflected remarkable growth

4Tourist paradise Goa is a popular tourist destination due to its natural beauty and bountiful avenues for leisure and relaxation.

The tourism industry directly contributes 16.43% to Goa’s Gross Domestic Product (GDP) and directly employs~35% of the state's population. The state is trying to recuperate from effects of the pandemic with inducedinvestments and planned developments.

4

INTRODUCTION

5

Goa fact file

Key Insights

2 administrative districts

364 persons per sq kmPopulation density

0.72 millionfemale population

PanajiCapital

3702 sq.km.geographical area

88.7%literacy rate

1.46 milliontotal population

0.74 millionmale population

973Sex ratio

(females per 1,000 males)

Source: Census 2011

Goa is located in the western region of India. The state shares its border with the Arabian Sea to the west, Maharashtra to the north and Karnatakato the south and the east.

Languages spoken are Konkani, Marathi, Portuguese, Hindi and English.

Goa’s administrative headquarters are located at Panaji (the state capital) and Margao. The state has two districts: North Goa and South Goa.

Goa has a tropical climate, with a monsoons lasting from June to September. Due to its long coastline, the weather is hot and humid for the rest ofthe year.

6

Advantage Goa

Strong presence in Tourism, fisheries and pharmaceuticals Established base for the

pharmaceuticals industry and anemerging destination forknowledge-based industries suchas biotechnology and IT.

High inflow of internationaltourists driving tourism revenue.

Rich labour pool Goa’s high rate of literacy has attracted knowledge-

based industries such as pharmaceuticals,biotechnology and IT.

A large proportion of the population can speakEnglish, which helps boost the state’s tourism andITeS industries.

High Economic Growth At current prices, Goa’s Net State

Domestic Product (NSDP) stood atRs. 735.33 billion (US$ 10.05 billion)in 2020-21.

The NSDP (in Rs.) increased at aCAGR of 7.87% between 2015-16and 2020-21.

Facilitating infrastructure Goa has a well-developed social, physical and

industrial infrastructure, and virtual connectivity.

It has an international airport that is in line itsambition to be a globally recognised leisuredestination. It also has significant port infrastructure

Source: Economic Survey of Goa 2017-18, Press Information Bureau, Directorate of Economics and Statistics Goa

7

Goa in figures

Note: GSDP, per capita GSDP figures are for 2020-21 taken at current prices, Conversion rate: 73.14, For source refer to Annexure, * - Includes Pondicherry, ** -year-on-year, MW- megawatt, FDI- Foreign direct investment, MN- Million

Goa‘s Contribution to Indian Economy (2020-21)

Social Indicators

Physical Infrastructure in Goa

Industrial Infrastructure Investments (US$ million)

GSDP as a percentage of all states’ GSDP

Per capita GSDP* (US$)India: 1,355.73 | Goa: 7,156.25

GSDP growth rate** (%)India: 4.2 | Goa: 8.16

Literacy rate (%)India: 73.0 | Goa: 88.7

Installed power capacity (MW) (as of February 2021)India: 379130.41 | Goa: 595.77

Internet subscribers (million) (as of June 2020)India: 749.07 | Goa: 64.10

Wireless subscribers (million) (as of December 2020)India: 1,153.77 | Goa: 2.75

National highway length (km) (as of September 2019)India: 132,499.5 | Goa: 292.9

Major and minor ports (No.)India: 200 | Goa: 6

Cumulative FDI equity inflows between April 2020 and December 2020India: 51,470 | Goa: 79.33

GSDP

Birth rate (per 1,000 population) (2018)India: 20 | Delhi: 12.4

Approved Special Economic Zones (SEZs) (February 2021)India: 426 | Goa: 7

India: 100 | Goa: 0.41

Airports (No.)India: 125 | Goa: 1

8

State vision

Knowledge centric In spite of its higher literacy rate, the

state plans to move one step ahead. The state plans to be a knowledge-

centric destination in the upcomingyears.

The state plans to be a knowledge-centric destination in the upcomingyears.

Preserve beauty and serenity To conserve Goa’s biodiversity, embrace responsible

mining, develop tourism sites. The state plans to preserve its natural beauty at all costs To ensure vibrant future for the habitats of the state.

Value chains to success In 2020-21, Goa’s per capita GSDP

stood at Rs. 523,390 (US$ 7,156),which was one of the highest in thecountry, and the state aims to double itin the next 25 years.

To depend on natural resources andrelated logistic industries, tourism andrelated services, healthcare & pharmaindustry, etc.

Governance Goa plans to emerge as the most

well-governed state in India. The foundation of high-quality

governance should be fairness,accountability and transparency.

Source: Ministry of Statistics and Programme Implementation, News articles

9

ECONOMIC SNAPSHOT

10

Economic snapshot – GSDP

At current prices, Goa’s Gross State Domestic Product (GSDP)was Rs. 815.02 billion (US$ 11.14 billion) in 2020-21.

The GSDP (in Rs.) increased at a CAGR of 8.16% between2015-16 and 2020-21.

Source: Directorate of Economics and Statistics Goa. Economic Survey 2019-20

8.41 9.

39 10.7

6

10.4

7 11.4

1

11.1

4

550.

54 629.

76

693.

52

731.

70 804.

49

815.

020

100

200

300

400

500

600

700

800

900

0

2

4

6

8

10

12

2015

-16

2016

-17

2017

-18

2018

-19

2019

-20

2020

-21

US$ billion Rs. billion

Note: exchange rates used are averages of each year ‘E' for Quick estimate

GSDP Per Capita of Goa at Current Prices

5,58

8

6,19

2 7,04

7

6,81

6

7,37

7

7,15

6

365,

806

415,

411

454,

172

476,

369

520,

031

523,

390

0

100,000

200,000

300,000

400,000

500,000

600,000

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

2015

-16

2016

-17

2017

-18

2018

-19

2019

-20

2020

-21

US$ Rs.

The state’s per capita GSDP was Rs. 523,390 (US$ 7,156), one ofthe highest in India, in 2020-21.

Goa’s per capita GSDP (in Rs.) increased at a CAGR of 7.43%between 2015-16 and 2020-21.

CAGR 7.43%CAGR 8.16%

GSDP of Goa at Current Prices

11

7.69 8.

56

9.76

9.45 10

.24

10.0

5

503.

54 574.

49

628.

73

660.

60

721.

81

735.

33

0

100

200

300

400

500

600

700

800

0

2

4

6

8

10

12

2015

-16

2016

-17

2017

-18

2018

-19

2019

-20

2020

-21

US$ billion Rs. billion

Economic snapshot – NSDP

At current prices, Goa’s Net State Domestic Product (NSDP) wasRs. 735.33 billion (US$ 10.05 billion) in 2020-21.

The NSDP (in Rs.) increased at a CAGR of 7.87% between 2015-16 and 2020-21.

CAGR 7.87%

Source: Directorate of Economics and Statistics Goa

NSDP Per Capita of Goa at Current Prices

5,11

1

5,64

8 6,38

9

6,15

4

6,61

9

6,45

6

334,

576

378,

953

411,

740

430,

081

466,

585

472,

216

050,000100,000150,000200,000250,000300,000350,000400,000450,000500,000

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

2015

-16

2016

-17

2017

-18

2018

-19

2019

-20

2020

-21

US$ Rs.

The state’s per capita NSDP was Rs. 472,216 (US$ 6,456) in2020-21.

Goa’s per capita NSDP (in Rs.) increased at a CAGR of 7.13%between 2015-16 and 2020-21.

CAGR 7.13%

Note: exchange rates used are averages of each year

NSDP of Goa at Current Prices

12

Economic snapshot – % distribution of GSVA

In 2020-21, the secondary sector accounted for 58.22% of the GrossState Value Added (GSVA) at current prices, followed by the tertiarysector at 34.70% and the primary sector at 7.08%.

Rise in the secondary sector was largely driven by the manufacturingindustry, construction and utility services, while the growth in theprimary sector was driven by agriculture and fishing sectors.

Visakhapatnam port traffic (million tonnes)GSVA Composition by Sector

21.52%

7.08%

47.23%58.22%

31.25% 34.70%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2011-12 2020-21

Primary Sector Secondary Sector Tertiary Sector

-5.94%

9.51%

10.95%

CAGR

Source: Directorate of Economics and Statistics Goa, Economic Survey 2018-19

13

Economic snapshot – FDI inflow & investments

Source: GOA - IPB, Department for Promotion of Industry and Internal Trade

Investment Intentions in Terms of IEMs Filed

Year NumberProposed investments (US$ million)

2017 12 20.48

2018 10 169.70

2019 13 84.28

Visakhapatnam port traffic (million tonnes)FDI Inflow in Goa in April 2000-March 2020 (US$ million)

72438 9 17 35

1883

43 1670 1053

200

300

400

500

600

700

800

900

1,000

1,100

FY01

-11

FY12

FY13

FY14

FY15

FY16

FY17

FY18

FY19

FY20

FY01

-20

According to Department for Promotion of Industry and InternalTrade (DPIIT), Foreign Direct Investment (FDI) inflow in the statestood at US$ 1,053 million between April 2000 and December 2020.

Between October 2019 and December 2020, FDI inflows in Goastood at US$ 79.33 million.

In 2019, 13 Industrial Entrepreneurs Memorandums (IEMs) werefiled in Goa with a proposed investment of Rs. 589 crore (US$ 84.28million).

In October 2020, Chief Minister Mr. Pramod Sawant announced thatthe state will provide speedy clearance to the US companies that areinterested in investing in Goa via the 100% FDI route. He invitedinvestment deals in education and knowledge, IT, electronics andfilm city development sectors.

Two US-based companies have shown interest in CM’s proposaland are planning to set up their units in Goa.

14

Economic Snapshot – Export

Merchandise Exports from Goa (US$ billion)

1.60 1.60

2.282.10 2.06 2.00

1.88

0.00

0.50

1.00

1.50

2.00

2.50

FY15 FY16 FY17 FY18 FY19 FY20 FY21*

Merchandise exports from the state reached US$ 1.88 billion between April 2020 and January 2021.

Drug formulations and biologicals were the most exported items, with a 48% share in FY21 exports. Iron ore, iron and steel, telecom instruments,and agro chemicals were the other key export commodities from Goa.

The state government has identified certain sectors that can give momentum to state exports. In November 2020, the state governmentannounced its export strategy by boosting sectors such as information technology, shipbuilding, tourism and agriculture and allied sectors.

In addition, in February 2021, Goa proposed to establish a medical device park, which will boost pharmaceutical exports. The government is alsoaiming to improve the state infrastructure by upgrading the Mormugao Port Trust and the airport.

Source: DGCIS Analytics, Media Sources

Principal Commodities Exported in FY21*

48%

10%4%

3%3%

33%

Drug Formulations, Biologicals

Iron Ore

Telecom Instruments

Agro Chemicals

Iron and Steel

Other

Note: *- April to January 2021

15

PHYSICAL INFRASTRUCTURE

16

Physical infrastructure – Roads

NH-17 runs along India's West Coast & links Goa to Mumbai in thenorth & Mangalore to the south. NH-4A running across the stateconnects Panaji to Belgaum (Karnataka) in the east. As of March2019, Goa had 293 km of national highways.

According to the State Budget 2019-20, under Bharatmala project fora length of 200 kilometres costing Rs. 2,500.00 crore (US$ 357.7million) and 100.5 kms of state roads added recently to NationalHighway network.

As per state’s Economic Survey, following road works completedduring 2019-20:

• Construction of two-lane bridge connecting Kharwada andCaranzalem village in Panchayat Madkai in Madkai constituencyat a cost of Rs. 10.04 crore (US$ 1.44 million).

• Renewal of carpet of MDR 34 from Dongar, Bhati to Gawaliwada,Vaddem in a length of 5.5 Kms in Sanguem Const. of SanguemTaluka at cost of Rs. 259.87 lakh (US$ 0.37 million).

Road type Road length (km)National highways (as of September 2019) 293

State highways 232

District highways 815

Source: Ministry of Road Transport and Highways, Directorate of Transport PWD: Public Works Department, State Budget 2019-20, Economic Survey 2019-20

17

The total railway route in Goa is comprising of two rail tracks: theKonkan Railways line that runs from the north to south and theSouth-Western Railways line that runs from west to east. Theseroutes connect the state to other parts of the country. These routesare around 167 km long, and cross the most important junction ofthe state, the Madgaon railway station. Vasco Da Gama is the nextimportant railway station in the state.

Konkan Railways, which connects Mumbai, Goa and Mangalore,has considerably boosted tourism. The Mormugao port is connectedthrough a broad gauge line.

Four railway overbridges are to be built in Goa with financial supportfrom the Rail Ministry. The Government has pulled off a new double-decker luxury train service on Konkan Railways route thatcommutes tourists from Mumbai to Goa.

On March 1, 2021, the Union Ministry of Environment, Forests andClimate Change (MoEF) has approved diversion of 140 hectares offorest land for the South Western Railway’s double-tracking project.The clearance came with an order to plant at least 1,000 trees perhectare as compensatory afforestation.

Physical infrastructure – Railways

Source: Maps of India

Source: Ministry of Railways - Government of India

18

Physical infrastructure – Airports

Goa Airport Passenger Traffic (million) Goa Airport Aircraft Movement

Source: Airports Authority of India

39,0

30 47,8

01

50,5

67 56,9

46

57,6

55

13,7

90

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

FY16

FY17

FY18

FY19

FY20

FY21

*

5.37

6.86 7.

61

8.46

8.36

1.70

0

1

2

3

4

5

6

7

8

9

FY16

FY17

FY18

FY19

FY20

FY21

*

Goa has one airport at Dabolim, which functions as a domestic as well as an international airport. The state is connected to most Indian cities byair.

A second greenfield international airport is being developed in Mopa, Goa, with an annual capacity to handle 30 million passengers. The airportwill be commissioned by August 2022.

In FY20, Goa airport handled 8.36 million passengers and 57,655 aircraft movements. However, between April 2020 and January 2021, the airporthandled only 1,704,335 passengers due to COVID-related flight restrictions.

The state has good connectivity in terms of international flights, including chartered flights from European countries.

Note: *- April to January 2021

19

Physical infrastructure – Ports

Goa has 255 kms of rivers & canals, providing an economical modefor goods transport.

The Mormugao harbour, a multi-purpose general cargo berthsituated in the port town of Vasco-da-Gama, handles local andinternational maritime cargo traffic.

The River Navigation Department was established to provide safe,dependable and affordable transport facilities on different ferry routesof Goa’s inland waters.

In FY20, the port handled 16.01 million tonnes of traffic. In FY21*,Mormugao Port managed 19.29 million tonnes of traffic.

In the first week of March 2021, Mormugao Port Trust announcedplans to develop a domestic and international cruise terminal, whichwill include Ro-Ro and Ro-Pax services and will enable cruisepassengers to directly travel by smaller ferries to North Goa.

The plan also includes creating a commercial hub within theterminal building for foreign tourists to experience the Goanculture, cuisine and handicrafts.

Major ports Mormugao

Minor ports

Panaji

Chapora

Betul

Talpona

Tiracol

Commodity-wise Traffic Handled at Mormugao Port during 2020-21*

Commodity Quantity (000’ tons)POL (Petroleum, Oil & Lubricants) 357Other Liquids 185Iron Ore 6,369Fertilisers (Fin.) 129Thermal & Steam - Coal 1,376Coking & Others - Coal 6,999Container Tonnage 278Container TEUs 20Other Misc. Cargo 3,595Total 19,288

Source: Ministry of Shipping, Government of India, Indian Ports Association, Mormugao Port Trust

Ports

Note: *- April to February 2021

20

Physical infrastructure – Power

The Electricity Department of Goa was created as a Government Department in 1963. The Electricity Department is the only licensee in the stateof Goa for transmission and distribution of Electrical Energy.

As of January 2021, Goa had a total installed power generation capacity of 595.77 MW, of which thermal power plants accounted for a significantshare in the total installed capacity with 559.94 MW, whereas nuclear energy and renewable energy contributed 26 MW and 7.83 MW,respectively.

Under the State Budget 2019-20, Government proposed Rs. 133 crore (US$ 19 million) for the erection of 220/33 KV Gas Insulated Sub Station atTuem along with 220KV double circuit line from 400/220 KV Colvale S/S to Tuem, and 50 MVA, 220/33 KV power transformer at 220 KV PondaSub-Station at a total cost of Rs. 133 crores (US$ 19 million).

On November 17, 2020, Energy Efficiency Services Limited (EESL), a joint venture of PSUs under the Ministry of Power and Department of New &Renewable Energy (DNRE), Goa, signed a memorandum of understanding to discuss roll-out of India’s first convergence project in the state.~400,000 households will benefit from this project and 140,000 tons of greenhouse gas emissions will be avoided.

In February 2021, Goa was granted the permission from its government to borrow Rs. 44 crore (US$ 6.03 million) for meeting the Power Ministry’starget to reduce aggregate technical and commercial (AT&C) losses and undertake power reforms. Such incentive was provided to four otherstates too.

Source: Central Electricity Authority, News Article

94.0%

4.4%1.3%

0.3% Thermal

Nuclear

Renewable

Hydro

Classification of Installed Power Capacity in FY21*

Note: MW- megawatt, KV- kilovolt, MVA- mega vollt ampere, *As of February 2021

Installed Power Capacity (MW)41

2.45 54

0.56

550.

19

567.

23

581.

17

595.

77

0.00100.00200.00300.00400.00500.00600.00700.00

FY16 FY17 FY18 FY19 FY20 FY21*

21

Physical infrastructure – Telecom

Goa is among the few states in the country to have 100% automatictelephone systems with a good network of telephone exchanges.

Goa has a fibre-optic cable network spread through the state; itprovides high-speed access for a wide range of internet-relatedservices. All the gram panchayats in the state of Goa are connectedwith optical fiber.

As of September 2020, Goa had 2.63 million wireless subscribersand 0.08 million wireline subscribers; teledensity stood at 182.90%.

In August 2020, the state government approved telecommunicationinfrastructure policy, which will adopt a single-window clearance forsetting up mobile towers in Goa.

In January 2021, the government announced plans to install 200new mobile towers to increase network connectivity in the state.

In December 2020, Vodafone Idea launched Wi-Fi calling services inGoa.

Source: Economic Survey of Goa, Telecom Regulatory Authority of India

Wireless subscribers (million) 2.63

Wireline subscribers (million) 0.08

Internet subscribers* (million) 66.72

Teledensity (%) 174.28

Telecom Statistics - September 2020

Some of the major telecom service providers

Bharat Sanchar Nigam Limited (BSNL)

Bharti Airtel

Reliance Jio

Vodafone Idea

Note: 1Denotes Maharashtra including Goa,

22

Physical infrastructure – Urban development

Panaji is one of the 65 cities identified under the Jawaharlal NehruNational Urban Renewal Mission (JNNURM). Two projects costingaround US$ 15.6 million have been sanctioned for Panaji.

As of 2018-19, the state had catered water supply demand throughseven regional water supply schemes, the Salaulim water supplyscheme is the largest amongst all the reginal water supply schemehaving capacity of 160 million litres per day.

As per State Budget 2019-20, Government will provide 150 litre percapita per day (LPCD) for urban areas.

As per the State Budget 2020-21, the state government allocated Rs.28,355.00 lakh (US$ 38.72 million) for urban development.

Under Smart City Mission, Goa Intelligent City Management Systemfor Panaji City, Smart Radios Wireless Network with Mast Towers forPanaji are close to completion.

As of February 2021, Goa became the 6th state in the country tosuccessfully undertake urban local bodies (ULBs) reforms stipulated bythe Department of Expenditure.

The state has thus become eligible to mobilise additional financialresources of Rs. 223 crore (US$ 30.55 million) through open marketborrowings.

Source: JNNURM, Ministry of Urban Development, Public Works Department of Goa, Goa Indicators of Scio-Economic Development 2018

Area Based Development

Service improvement for urban poor in Mala Fontain; Integrated Urban Water Management; Provision of basic services in entire area

Smart Transportation and Eco Mobility

Digital Enabled System for Public Bike Share System, Air Quality monitoring stations, Smart Parking, Smart Component for buses (GPS, automated fare collection etc.), etc

Smart Environmental Services

Trolley Bins with RFID tags, Biometric Attendance in 12 Zonal Offices, CCTV Surveillance of black spots, etc

Smart City Proposal: List of projects in Panaji

23

SOCIAL INFRASTRUCTURE

24

Social infrastructure – Education

Goa has a number of leading engineering, business management, medical and legal institutes. The Maritime School, under the Captain of PortsDepartment, Government of Goa, is among the first of its kind in the country.

Goa College of Pharmacy, set up in 1842, is one of the oldest institutes in India. It offers bachelor’s, master’s & diploma courses in pharmacy. Theinstitute has 60 seats for bachelor's degree, 60 seats for diploma & 36 seats for master’s degree in various fields of pharmacy.

In 2019-20, the total enrolments in schools were recorded to be 240,450. As per the State Budget 2020-2021, the state government has allocatedRs. 51,190.82 lakh (US$ 69.94 million) to the education, sports and arts & culture sectors.

In January 2021, Chief Minister Mr. Pramod Sawant announced that Goa is on a path to become an educational hub as many universities andinstitutes of higher education are expressing interest in setting up campuses in the state. He also said that the state has an additional capacity tohost 25,000 higher education students.

Source: Educational Statistics at a Glance 2019-20, Government of Goa, AISHE 2018-19, State Budget 2020-21

Primary schools 1,149

Middle schools 54

Higher schools 419

Secondary schools 106

Primary level: Teacher–Pupil ratio 1:27

Middle level: Teacher–Pupil ratio 1:23

Secondary level: Teacher–Pupil ratio 1:20

Higher Secondary level: Teacher–Pupil ratio 1:18

School Educational Statistics 2019-20

Universities 3

Colleges 64

Stand Alone Institutions 11

Gross Enrolment Ratio 28.0

Teacher Pupil Ratio 1:15

Higher Educational Statistics 2018-19

25

Social infrastructure – Health

Goa has some very renowned hospitals including Apollo VictorHospital in Margao, Manipal Hospital in Panaji and VrundavanShalby Hospital in Mapusa. As of April 2020, the number of primaryhealth centres and sub centres in Goa were recorded to be 50 and222, respectively.

The ‘Prime Minister Jan Aarogya Yojana - Ayushman Bharat’ waslaunched in the state in September 2018. Further, the StateGovernment has also made a provision of US$ 2.43 million forbuildings, US$ 0.18 million for books & periodicals & US$ 0.70million for various equipment for Goa Medical College.

As per the State Budget 2020-21, the state government has allocatedRs. 26,662.15 lakh (US$ 36.42 million) to the medical and publichealth sector.

Goa’s Vision 2025 has drawn key action plans that are beingimplemented into the state rapidly. Most of these are on the lines ofbuilding Ayushman health & wellness centres, enhancingteleconsultation, setting up medical laboratories and more.

In January 2021, the state submitted a proposal to the centralgovernment for setting up a medical device park at Verna. The parkis aimed to make Goa a healthcare hub where medical tourism andmedical equipment production takes place simultaneously.

Source: Economic Survey of Goa, State Budget 2020-21, NRHM,

Primary Health Centres 50

Sub Centers 222

Community Health Centres 14

District Hospitals 3

Sub-District Hospitals 2

Healthcare Infrastructure (May 2020)

Birth rate1 12.4

Death rate1 6.9

Infant mortality rate2 7

Health indicators (2018)

Note: 1Per thousand persons, 2Per thousand live births

26

INDUSTRIAL INFRASTRUCTURE

27

Industrial infrastructure

Industry clusters Industries

Verna Rubber, plastics, petroleum products, pharmaceuticals, electronics and telecommunication equipment.

Bicholim Engineering, oil products, plastics, leather, textiles, food processing, soaps and agro products.

Kundaim Rubber, plastics, petroleum products, pharmaceuticals, steel fabrications and aluminum furniture.

Margao Printing, plastics, herbal hair oils, cosmetics, ice blocks, engineering items and industrial diamond tools.

Mormugao Shipbuilding and repair.

Corlim Metal works, engineering, cold storage, food processing, electronic products, paper products, chemicals, paints and varnishes.

Vasco Shipbuilding and repair.

In December 2020, Goa’s Chief Minister Mr. Pramod Sawant, at the virtual meet of Assocham Foundation Week in the Session on Goa, said thatthe state grew at 10.88% between 2015-16 and 2019-21 due to fast progress in sectors such as mining, pharmaceuticals and tourism.

Goa Industrial Development Corporation (Goa-IDC) is the nodal agency established for setting up of industrial estates & offering developed plotsto industrial units in the state. As of 2017-18, 1,563 factories were registered in state.

Goa-IDC has established 20 industrial estates, spread across the state’s talukas & is currently working on the expansion of existing industrialestates as well as establishing new ones.

Seven ITIs (Industrial Training Institutes) in the state of Goa are covered under the World Bank Assisted Vocational Training Improvement Project(VTIP) while one ITI in the state has been taken up by the central Government for upgradation through public private partnership.

Source: Goa Industrial Development Corporation

28

SEZ and industrial estates

As of October 2020, Goa had seven formally approved and threenotified special economic zones (SEZs). However, there are nooperational SEZs in the state and no in-principle approved SEZ.

On completion, the SEZs would primarily cover knowledge-basedindustries such as biotechnology and IT/ITeS. The Goa IndustrialDevelopment Corporation (Goa-IDC) assists in establishingindustries in specific industrial areas and estates. Goa-IDC hasestablished 20 industrial estates in various talukas of Goa. It plans toexpand eight of these existing units and establish another fiveindustrial estates.

To accommodate new investments in coastal state, GoaGovernment has amended a law to open more space in its industrialestates.

The Government is committed to make Goa an aspirationalinvestment destination for best-in-class manufacturing, tourism,entertainment and other service industries, including research andknowledge-based industries.

Sector-wise formally approved SEZs

Sector Developer Number of SEZs

Area (Hectares)

IT/ITeS K. Raheja Corp Pvt. Ltd. 1 105.91

Biotechnology Peninsula Pharma Research Centre Pvt Ltd 1 20.37

Pharmaceuticals Meditab Specialities Pvt Ltd 1 123.20

IT/ITeS Paradigm Logistics and Distribution Pvt Ltd 1 40.25

Gems and Jewellery Planet Mercantile Company 1 13.28

Biotechnology Inox Mercantile company 1 48.48

IT Panchbhoomi Infrastructure 1 18.5

Source: Ministry of Commerce & Industry, Department of Commerce, Goa Industrial Development Corporation, Economic Survey of Goa

29

KEY SECTORS

30

Key sectors – Tourism and hospitality

Goa is regarded as one of the top beach and nightlife destinations inthe country and had attracted ~8 million tourists in 2019.

Innovative marketing strategies to project Goa as an all-time leisuredestination have resulted in higher tourist inflows over the years.

For 2020-21, the state government has allocated Rs. 12,746 lakh(US$ 17.41 million) to the tourism sector.

In 2020*, Goa witnessed arrivals of 876,358 domestic tourists and282,022 foreign tourists. This was lower than 2019 due to COVID-19restrictions.

The pandemic cost the Goan tourism sector an estimated loss of Rs.2,000-7,200 crore (US$ 275.07-990.26 million) and observed 35-58%job losses.

In a bid to boost the state’s tourism goals and recuperate from thelosses, the government is developing and promoting tourisminfrastructure in an environmentally and ecologically sustainablemanner, under the new ‘Goa Tourism Policy 2020’.

Source: Department of Tourism, Government of Goa, Economic Survey of Goa 2019-20, State Budget 2020-21

Visakhapatnam port traffic (million tonnes)Tourist Arrivals in Goa (million)

2.332.62

3.54

4.76

5.65

6.90 7.08 7.13

0.88

0.450.49

0.51

0.54

0.68

0.890.93 0.94

0.28

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

8.00

9.00

2012 2013 2014 2015 2016 2017 2018 2019 2020*

Domestic Foreign

Note: * Till August 2020

31

Key sectors – Fisheries (1/2)

Fishes form an integral part of Goan life and culture, as they are oneof the most important food items for >90% of the population.

Goa, with a coastline of 104 kms (1.28% of the Indian coastline),poses a great opportunity for the fisheries sector, which contributes~2.5% to the state’s total GDP and 17.1% to the state’s agriculturalGDP.

Marine and coastal fisheries contribute 97% to the total fishproduction in Goa. Goa is bestowed with 330 ha. of brackish waterresources, which hold good potential in development of fisheries,particularly through capture and coastal aquaculture.

As per State Budget 2020-21, fisheries has been allotted an annualfund of Rs. 2,223.50 lakh (US$ 3.03 million).

On February 7, 2021, Union Fisheries Minister Mr. Giriraj Singhannounced an investment of Rs. 400 crore (US$ 55.30 million) inGoa. These funds will be used to construct 30 fish landing jetties thatwill be linked to the main roads, where fishermen can anchor theirboats near their villages.

Other initiatives include utilisation of 72 sq. km. area for cage culture(an aquaculture production system where fishes are held in floatingnet pens). The central government will also appoint ‘Sagar Mitra’,who will help the fishermen liaison with the government for each ofthe fishing villages in the state.

The Sagar Mitra scheme aims to develop fisheries in rural areas byeducating the local youth on fishing and fisheries.

Source: Directorate of Fisheries

Goa Fisheries at a Glance 2019-20

Parameter Details

Inland waterways in Goa 250 kms.

No. of fishing talukas 7

No. of fishing villages 39

No. of mechanised trawlers in operation 913

No. of motorised crafts registered 1,665

No. of non-motorised crafts registered 911

No. of registered nets 8,644

Fish landing centres (key jetties) 5

Fish landing centre ramps 22

Annual fish landing (million tonnes) 100,567

Value of fish landing (Rs. crore) 1,606.44

Export of marine fish products (million tonnes) 2019-20 14,699

Export of marine fish products (Rs. crore) 2019-20 288.50

32

Key sectors – Fisheries (2/2)

Annual Fish Production (‘000 tonnes)

86.2 86.6 88.0

128.1 108.2 101.1 120.4116.1 86.0

3.5 3.94.7

3.7 4.64.4 5.3 5.0

3.7 0.0

2.0

4.0

6.0

8.0

10.0

-10.010.030.050.070.090.0

110.0130.0

2011

2012

2013

2014

2015

2016

2017

2018

2019

Marine Inland

Fish Exports from Goa

Source: Directorate of Fisheries

31.743.2

50.6

37.9

14.7

490.5

641.4711.9

619.7

288.5

0.0

200.0

400.0

600.0

800.0

0.010.020.030.040.050.060.0

2015-16 2016-17 2017-18 2018-19 2019-2020

Quantity in Tons (000s) Value in Rs. Crore

Note: P – provisional, E – Estimated

33

KEY PROCEDURES AND POLICIES

34

Key investment promotion offices

Agency Description

Goa Industrial Development Corporation (Goa-IDC)

It has been established with the purpose of securing land and assisting in fast and orderly establishment of industries in the 20 designated industrial areas and estates.

Economic Development Corporation

This is a state Government-promoted financial institution to operate and manage government-promoted financial schemes.

It acts as an investment company and provides financial assistance to entrepreneurs for starting as well as expanding business units.

The Goa State Infrastructure Development Corporation

This was set up as a Special Purpose Vehicle (SPV), with the basic aim to develop infrastructure in a time-bound manner.

Goa Handicrafts Rural and Small Scale Industries Development Corporation

It promotes traditional arts and crafts, fashioned by the state’s artists and artisans.

It performs functions related to procurement and distribution of indigenous and imported raw material, especially for small scale units.

It has been instrumental in starting the ‘Deen Dayal Swayamrojgar Yojana’, a scheme to develop self-employment opportunities for the youth.

Goa Tourism Development Corporation

It promotes tourism and related activities in Goa.

It focuses on developing eco-tourism, heritage tourism, adventure tourism, medical tourism and event tourism.

Goa Horticulture Corporation

It promotes investments in export-oriented projects, especially for the cultivation of exotic fruits and vegetables, floriculture, etc.

It is entrusted with the development of horticulture estates and establishment of sales outlets for local produce through establishments called ‘Krishi Ghars’.

Info Tech Corporation of Goa Ltd (ITG)

It looks after the development of IT-related infrastructure, ITeS and implementation of the government’se-governance objectives.

35

Contact list

Agency Contact information

Directorate of Industries, Trade and Commerce

Udyog Bhavan, Panaji- 403 001 GoaPhone: 91-832-2226377Website: http://www.goaditc.gov.in

Goa Chamber of Commerce & Industry

Narayan Rajaram Bandekar Bhavan, T.B Cunha Road, P.O. Box 59, Panaji - 403 001Phone: 91-832-2424252E-mail: goachamber@goachamber.orgWebsite: http://www.goachamber.org

36

Key approvals required

Registration, Industrial Entrepreneurs Memorandum (IEM),

Industrial Licences

Incorporation of company

Allotment of land

Permission for land use

Site environmental approval

No objection certificate and consent under Water and Pollution

Control Acts

Approval of construction activity and building plan

Sanction of power

Registration under the State Sales Tax Act and Central and Excise

Act)

Approvals and clearances required Departments to be consulted Estimated time taken (days)

N.A.

N.A.

8 to 15

60

7 to 14

• Up to 60

8 to 15

• N.A.

• 30

Goa-IDC

Registrar of Companies

High Powered Coordination Committee (HPCC) for large and medium-sized projects, Director of Industries, Trade and

Commerce for small and micro projects

Goa-IDC

Goa State Pollution Control Board and Ministry of Environment and Forests

Goa State Pollution Control Board

Town and Country Planning Authority

State Electricity Department

Sales Tax Department and Central and State Excise Department

37

Approval process…(1/2)

The Goa Industrial Policy 2003 has revamped the single-window clearance mechanism in the state.

HPCC, chaired by Goa’s Chief Minister, has been appointed responsible for dealing with large projects. Members of the committee include senior-most officers of concerned state departments.

The Director of Industries, Trade and Commerce handles small scale industries. The Goa-IDC and the District Industries Centre act as nodalagencies for various projects in the state. Goa-IDC handles the creation of SEZs in the state.

Greater than US$ 1.09 million HPCC

Department of Industries, Trade and Commerce

Director of Industries, Trade and Commerce

The Chief Minister

District Industries Centre

Goa IndustrialDevelopmentCorporation(Goa-IDC)

Nodal agencyUnder the

Chairmanship ofInvestment handled

Below US$ 1.09 million

38

Approval process…(2/2)

Goa Investment Policy 2013, which laid a special thrust on development of Special Investment Regions, aims to kick start investment in Goaneconomy.

This policy aims to articulate various initiatives being undertaken to make Goa a preferred and aspirational investment destination.

It aims to create an institutional framework for facilitating investments in the thrust areas as well as other areas decided upon by the InvestmentPromotion Board (IPB)/Government of Goa on an ongoing basis.

Evaluation and recommendation by

satellite expert consultant

IPB decision on investment proposal

along with all approving authorities

Check on land availability in

industrial estates

Process for industrial set up in Goa

15 days Rejection

IPB approval

Detailed templatised

proposal submitted to IPB

Land not available

Land earmarked

30 days

Evaluation and recommendation by satellite consultant

Nodal officer approval who would

assist with all approvals Approval

Rejection

Receipt of all clearances for unit to establish facility and

start operations

30 days30 days30 days

Preliminary Project Report submitted to

IPB

39

Cost of doing business in Goa

Cost parameter Cost estimate

Industrial land (per sq ft) US$ 10-50

Office space rentals (per sq ft per month) US 60 cents to US$ 2

Residential rentals (for a 2,000 sq ft house per month) US$ 800-1,300

Five-star hotel room (per night) US$ 160-800

Power cost (per kWh) Industrial: US 4.7-7.3 cents

Labour cost (minimum wage per day) US$ 3.9-5.5

Source: Industry sources, Goa-IDC, Ministry of Labour and Employment, Government of India, Electricity Department, Government of Goa

40

State acts & policies…(1/2)

Goa Start-up Policy 2017 The Government has notified the Goa Start-up Policy 2017 with the following objectives: Make Goa a hub of high value start-ups. Attract entrepreneurial talent to the state and build a robust start-up eco-system in Goa Aid local entrepreneurs and start-ups Create at least 100 successful start-ups in the next five years

1

Goa Investment Policy 2014 Main objectives of the new policy include: making Goa an aspirational investment

destination by making business a pleasure, for best-in-class manufacturing, knowledge-based, tourism, entertainment and other service industries, while improving the environmental and social indicators of the state.

The state Government is working on the new tourism policy with a vision of overall tourism development and to engage with private players to invest and develop infrastructure in the state

2

Goa Telecom Infrastructure Policy, 2020Aims to boost setting up of modern telecommunication infrastructure and ensure good-quality Internet networks across Goa, especially remote and hilly areas. 3Goa Tourism Policy 2020Offer a uniquely Goan experience to visitors by presenting a versatile concoction of historic, natural, ethnic, cultural locations and attractions. 4

Read more

Read more

Read more

Read more

41

State acts & policies…(2/2)

Goa IT Policy 2018To make state of Goa a preferred place for investment in high end software products and services. 5

Biotechnology Policy To ensure accelerated growth in all areas of the biotechnology sector such as

education, research and economic sectors covering healthcare, agriculture, industry, services, environment management and employment generation.

Objectives of the policy include prioritisation of the thrust areas for basic and applied research and technology development, and promotion of innovations in R&D by providing financial and infrastructural support.

7

Goa Investment Policy 2014 Creating 50,000 jobs and investing US$ 4.2 billion in new projects in the next five years. Providing 24x7 high-quality power supply and logistics infrastructure to industries.9

Mining Lease Policy, 2014The state Government can directly auction the leases in order to secure the best returns for the grant of leases by way of a competitive bidding process.8

Goa State Solar Policy 2017To aid the development of solar power projects in the state and attract new investments for capacity addition over next seven years6

Read more

Read more

Read more

Read more

Read more

42

APPENDIX

43

Sources

Data Sources

GSDP (state) Directorate of Economics and Statistics, Goa

Per capita GSDP figures MOSPI, Directorate of Economics and Statistics, Goa

GSDP (India) MOSPI

Installed power capacity (MW) Central Electricity Authority

Wireless subscribers (No) Telecom Regulatory Authority of India, as of

Internet subscribers (million) Telecom Regulatory Authority of India

National highway length (km) Ministry of Road Transport and Highways

Number of Ports India Ports Association

Airports (No) Airports Authority of India

Literacy rate (%) Census 2011

Birth rate (per 1,000 population) SRS Bulletin, 2018

Cumulative FDI equity inflows (US$ billion) Department for Promotion of Industry and Internal Trade

Operational PPP projects (No) DEA, Ministry of Finance, Government of India

44

Exchange rates

Exchange Rates (Fiscal Year) Exchange Rates (Calendar Year)

Year Rs. Equivalent of one US$

2004-05 44.95

2005-06 44.28

2006-07 45.29

2007-08 40.24

2008-09 45.91

2009-10 47.42

2010-11 45.58

2011-12 47.95

2012-13 54.45

2013-14 60.50

2014-15 61.15

2015-16 65.46

2016-17 67.09

2017-18 64.45

2018-19 69.89

2019-20 70.49

2020-21 72.59

Source: Reserve Bank of India, Average for the yearNote: As of February 2021

Year Rs. Equivalent of one US$

2005 44.11

2006 45.33

2007 41.29

2008 43.42

2009 48.35

2010 45.74

2011 46.67

2012 53.49

2013 58.63

2014 61.03

2015 64.15

2016 67.21

2017 65.12

2018 68.36

2019 69.89

2020 74.18

2021* 73.69

45

Disclaimer

India Brand Equity Foundation (IBEF) engaged Sutherland Global Services private Limited to prepare/update this presentation.

All rights reserved. All copyright in this presentation and related works is solely and exclusively owned by IBEF, delivered during the course ofengagement under the Professional Service Agreement signed by the Parties. The same may not be reproduced, wholly or in part in any materialform (including photocopying or storing it in any medium by electronic means and whether or not transiently or incidentally to some other use of thispresentation), modified or in any manner communicated to any third party except with the written approval of IBEF.

This presentation is for information purposes only. While due care has been taken during the compilation of this presentation to ensure that theinformation is accurate to the best of Sutherland Global Services’ Private Limited and IBEF’s knowledge and belief, the content is not to be construedin any manner whatsoever as a substitute for professional advice.

Sutherland Global Services Private Limited and IBEF neither recommend nor endorse any specific products or services that may have beenmentioned in this presentation and nor do they assume any liability, damages or responsibility for the outcome of decisions taken as a result of anyreliance placed on this presentation.

Neither Sutherland Global Services Private Limited nor IBEF shall be liable for any special, direct, indirect or consequential damages that may arisedue to any act or omission on the part of the user due to any reliance placed or guidance taken from any portion of this presentation.