Goa is one of the most attractive investment destinations for foreign investors as it is the richest state per capita in India. Foreign investment is very much encouraged by the state government, evidence of this are the industrial, Information Technology, and Biotechnology policies which all encourage and support, through incentives, investment.
Having a range of successful industries such as; tourism, food processing, Information technology, mining, biotechnology, pharmaceuticals, and Fishing, with an ample (skilled) workforce, and one of the best social and industrial infrastructures in India make investment in Goa an attractive prospect.
IT/ITeS and Electronics Industry
Being one of the most literate states in India, with a literacy rate of 82% Goa is ideally set for a worldwide IT boom. The majority of people from Goa are conversant in English which places them well as English is the lingua franca of the IT industry.
The Goa University runs a post graduate course in computer science and along with this there are over 250 institutes imparting IT education.
Vast improvements in the IT industry have been seen after the introduction of the Information Technology policy. The top IT/ITeS industry players present in the state include D-link (India) Pvt.Ltd. and Tata InfoTech Ltd.
Goa's annual production of iron ore is 15-16 million tonnes extracted over a mining belt of approximately 700 sq km and is concentrated in 4 taluka's, Namely Bicholim Salcete, Sanguem and Quepem.
Goa is a major iron ore exporting state, Goa exports over 60% of the countries Iron ore. Along with iron ore, Manganese and Bauxite ores are also extracted and exported
The mining Industry is a vital part of the Goan Economy and is the largest contributor to the states GSDP. Sesa Goa Ltd is the leading company in the mining industry in Goa and is a flagship company of Sesa group which is the largest exporter of iron ore in the private sector.
In 1993 the state government announced a 5 year tax holiday for Goa which gave the pharmaceuticals sector the impetus it needed. From 1995 onwards mass development took place which has resulted in the pharmaceutical industry, today, having over 120 registered units employing approximately over 18000 people which makes it the second largest employer, after the mining industry, in Goa.
Goa is now home to many multi national pharmaceutical companies including Cipla, Aventis, and Blue Cross. Many of these large companies have chosen Goa not only due to the 5 year tax holiday but also due to Goa's pollution free nature, which is conducive to the pharmaceutical industry.
Goa is one of the main tourist attractions, particularly for foreign nationals, in India. In 2004 Goa saw over 2 million tourists of which 400 000 were from abroad, the state handles over 12% of all foreign tourist to India.
The mix of culture, due to the Portuguese rule for 450 years makes Goa a unique destination within India.
Due to the high volumes of tourists that visit the state the tourism industry is one of the major contributors to the GSDP.
Goa has a coastline of 130 km, full of creeks and estuaries, and inland waterways of about 250 km. In 2006-07 over 96300 tonnes of marine fish and 4,133 tonnes of inland fish worth over US$64 million and US$ 5.4 million, respectively, were produced. Goa has been a major exporter of seafood to US, Japan, and many European countries.
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D-Link (India) Pvt.Ltd.
D-Link (India) is a public listed company a part of the multinational D-Link Corporation, which has a presence in 26 countries. The company's main area of business is that of networking and communications. Recently D-Link has entered the motherboard market through a joint venture with Gigabyte Technology, Taiwan.
D-Link has a major presence in Goa with 3 manufacturing facilities spanning an area of over 120 000 sq ft.
Tata InfoTech Ltd
Tata InfoTech is a part of the Tata group that was established in 1977. Tata InfoTech operates in the areas of system integration, contract hardware manufacturing and IT education.
Tata InfoTech has one manufacturing unit in Goa spanning an area of approximately 60 000 sq ft, this unit has two sections, one for dealing with exports and one to deal with domestic markets. A whole host of products are manufactured at the unit including, ATMs, cash dispensers, bill payment machines, check encoders/sorters and complex electro-mechanical products.
Sesa Goa Limited
Sesa Goa is a flagship company of India's largest iron ore exporter in the private sector. The group has been involved in the iron ore mining, beneficiation and exports for over 50 years and has recently diversified into the manufacturing of pig ion and metallurgical coke.
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Aventis Pharma India
Aventis Pharma is a wholly owned subsidiary of Aventis worldwide who have a World Health Organisation certified 120 000 sq ft site located in Goa which is identifies as a global sourcing site for Daonil. The facility in Goa is one of the leading pharma manufacturing centres in the country.
Blue cross laboratories Ltd
Blue Cross is one of the leading companies in the pharmaceutical market, with over 900 employees and an annual turnover of US$25 million. The company has offices in Myanmar, Nepal, South America, the Middle East and South Africa. The plant in Goa has been WHO and FDA approved.
Cipla Ltd has a manufacturing plant in the Verna Industrial Estate, the plant manufactures and markets bulk drugs and formulations. In 2003 the plant in Verna produced 27% of the total goods manufactured and has been earmarked to produce the company's entire range of anti-cancer and hormonal drugs.
Merck India is the India arm of the German E-Merck set up in 1967. The company is the sole manufacturer of vitamin-E bulk in India with a capacity of over 300 tonnes a year. Merck India has a soft gelatine manufacturing plant located at Usagon in Goa.
Nestor pharmaceuticals have 3 manufacturing plants in the country which produce over 300 different therapeutic products for the domestic market. Nestor also has 1 formulation plant in Goa.
Unichem Laboratories Ltd
Unichem is one of the leading pharmaceutical companies in India and has a US$4.6 million Bardez plant in Goa. The plant manufactures non-antibiotic oral dosage forms and is completely focussing on the US market.
The Vicco group is the maker of internationally known products of Ayurveda, the ancient Indian system of natural medicines. Vicco group opened its manufacturing facility, which was given the 'best construction Award' by the American Concrete Association, in Goa in 1997 spanning an area of 90 000 sq ft.
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More Information on Goa
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