The state is traditionally known as a tourist paradise, but it also has a robust presence in agriculture and fisheries as well as mining (iron ore and manganese). The state has one of the highest literacy rates in the country, and thus a flourishing set of knowledge-based industries including pharmaceuticals, biotechnology, and IT.

The state is richly endowed with minerals such as iron ore, manganese, ferromanganese, bauxite, and silica sand. It has about 23 industrial estates established by Goa Industrial Development Corporation and an installed power capacity to produce 595 MW and offers a low crime rate and strong infrastructure, including seven formally approved and three notified special economic zones (SEZs) (as of March 21 ).