Goa is India's
richest state with a GDP per capita two and a half times that
of the country as a whole, and one of its fastest growth rates:
8.23% (yearly average 1990–2000).
The land away from the coast is rich in minerals and ores
and mining forms the second largest industry. Mining in Goa
focuses on ores of iron, Bauxite, manganese, clays, limestone
and silica. Agriculture, while of shrinking importance to
the economy over the past four decades, offers part-time employment
to a sizable portion of the populace. Rice is the main agricultural
crop, followed by areca, cashew and coconut.
The fishing industry provides employment for about forty thousand
people, though recent official figures indicate a decline
of the importance of this sector and also a fall in catch,
perhaps coupled with the fact that traditional fishing has
given way to large-scale mechanised trawling.
Medium scale industries include the manufacturing of pesticides,
fertilisers, tyres, tubes, footwear, chemicals, pharmaceuticals,
wheat products, steel rolling, fruits and fish canning, cashew
nuts, textiles, brewery products. Goa is also notable for
its low liquor prices due to its very low excise duty on alcohol.
Another source of cash inflow into the state comes from many
of its citizens who work abroad and remit money to their families.
Zuari Industries and Sesa Goa are two S&P CNX 500 conglomerates
which have corporate offices in Goa.
Shipping is one of Goa's main industries.
Tourism is Goa's primary industry: it handles 12% of all foreign
tourist arrivals in India. Goa has two main tourist seasons:
winter and summer. In the winter time, tourists from abroad
(mainly Europe) come to Goa to enjoy the splendid climate.
In the summertime (which, in Goa, is the rainy season), tourists
from across India come to spend the holidays.
Tourism is generally focused on the coastal areas of Goa,
with decreased tourist activity inland.