An analysis of industrial development in Goa Dr. Shanbhogue Suresh*, Ms. Shanbhogue Amitha** *Joint Director, Directorate of Planning, Statistics and Evaluation, Government of Goa, Junta House, Panaji, India **Assistant Professor, S. S. Dempo College of Commerce and Economics, Panaji, Goa-403001, Taleigao Plateau, Goa, India Online published on 21 September, 2017. Abstract Goa has witnessed significant transition from agrarian to industry and service sector economy. The agriculture in the state has taken a back seat mainly due to less economic returns in comparison with non-agricultural activities in relative terms. Though, Goa didn't inherit any industrial base from Portuguese, the industrial sector in Goa has grown leaps and bounds making significant contribution to the state income and providing employment to many. The appropriate institutional mechanism put in place by the Government, particularly the role played by the GDDIDC in establishing 21 industrial estates with adequate infrastructure and finances made available by the EDC have played catalyst role in the industrial development. The very high CARG in the index of industrial production indicates vibrant manufacturing sector contributing significantly to the economy of the state. The regression analysis reveals that the estimated coefficients of labour and capital are individually statistically significant and the economy of Goa is characterized by increasing returns to scale. The very high significance level of F statistic reveals that employment and fixed capital together have tremendous impact on the net value added in the manufacturing sector. Top |
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