The Daman and Diu economy is largely dependent on the small scale industrial units that the union territory is endowed with. Apart from industries, agriculture and tourism also contribute substantially to the Daman and Diu economy. A number of other ancillary sectors like real estate have also boomed in the developing union territory and effectively buttress the economy.
Agriculture is the main source of livelihood of the people of Daman and Diu. Paddy is the principal cultivated crop. Besides paddy, pulses, oilseeds, groundnuts, ragi, beans, wheat, mango, sapota and banana are also grown aplenty. Almost 67% of the total land area of Daman and Diu ( about 3727 hectares) is under cultivation.
Daman and Diu, being a popular tourist destination has a well developed tourism industry. The tourism industry has also accelerated the growth of several auxiliary sectors like real estate and the hospitality industry. Several hoteliers and industrial magnets have invested in hotels, seaside chalets, bungalows and farmhouses in the union territory. The affordable land prices and the proximity to the Special Economic Zones have facilitated the development of the real estate sector.
Daman and diu Industries
Daman Industries are the focal point of the thriving Daman and Diu economy. The puny union territory is burgeoning into a bustling industrial center and is spreading its wings to venture into newer territories. Mechanical products, chemical paraphernalia, electronics and electrical goods, plastic, rubber, pharmaceuticals, paper packaging, metallurgy, instrumentation, service as well as hospitality and tourism industries are the union territory's forte. Consequently, a plethora of industries specializing in these sectors have mushroomed in the union territory. Amongst the mechanical industries in Daman and Diu, the automobile industry, bearing, cranes, cranes hoist lifts, cooling towers, brass precision components as well as industries specializing in diesel engine parts deserve special mention.
Air compressor spares, electrical accessories, computer peripherals and stationery, hardware, software, chilling plants, battery parts, capacitors, air conditioned coils, AC DC drivers, lighting luminaries and home appliances are some of the other noted industries in Daman. Manufacturing units of chemicals, corks, breweries, distilleries, acids, dyes, cosmetics, agricultural pesticides and insecticides, chemical paper, carbon black, chemical powder, chemical textile auxiliaries are a host of other materials have also been established in Daman. Other industrial units that deal with the manufacturing of ayurvedic unani medicine and herbs, adhesives, tapes, molding material, building material, audio visual equipment, jute products and paper boards have also sprung up in the union territory. The hospitality industry has also made its mark and carved out a niche for itself in the popular tourist hub of South India.
Daman and diu Agriculture
Daman and Diu agriculture is one of the principal sources of livelihood of its populace and contributes substantially to the Daman and Diu economy. Daman and Diu is the second smallest Union Territory of India, which remained a branch of coastal settlements on Arabian Sea coast for almost four centuries since the time of the Portuguese travellers. Daman and Diu are two separate segments, both on the sea side and enclosed by Gujarat.
In the district of Daman, several cereal crops are grown. The most important field crops grown are Ragi, groundnut, paddy, pulses and beans. Wheat is also an important crop. This union territory also grows and exports Sapota, Mango and Bananas. The net field area is about 3720 hectares which encompasses about 67% of the entire geographical area of the districts.
Daman and diu Real Estate
Daman and Diu real estate is one of the booming industries in the recent times that contribute substantially to the Daman and Diu economy. Goa, Daman and Diu were amalgamated into the Union of India as sovereign states and Union Territories. But, Goa was elevated to being a state, Daman and Diu became Union Territories. The populace of Daman and Diu mainly speak Marathi and Gujarati.
A large number of real estate companies and hoteliers have started investing large amount of funds in Daman and Diu. Seaside chalets, bungalows and farmhouses are in high demand. The land prices, which have skyrocketed in the neighbouring states of Gujarat and Maharashtra, are still within limits in Daman and Diu. Taking advantage of the proximity of Daman and Diu to Special Economic Zones (SEZs), these companies are engaged in multiple projects for both the Government and Private parties.
Daman and diu Tourism
Daman and Diu Tourism is a significant part of the economy of Daman and Diu, a picturesque union territory that is surrounded on one side by the Gulf of Cambay. Basking prettily in the southern fringes of Gujarat, Daman and Diu has plenty to offer its tourists. Bordered by coconut groves, the rocky and sandy terrains of Daman and Diu boasts of a history that dates back to antiquity. In fact, the picturesque union territory is a treasure trove of natural delights. The majestic, crenelated fort of St. Jerome, the venerable Jain Temples, the medieval Se Cathedral and the fascinating Church of Our Lady of Rosary whose walls illustrate some stunning Portuguese sculptings as some of the must see destinations in the panoramic union territory.
Tourists visiting Daman and Diu can also go for a quick weekend trip to the Satpura Hills. The more adventurous and fun loving tourists can also revel in the gala celebrations of the annual Nariyal Purnima and also participate in the thrilling boat races and the swimming competitions.The virgin terrains of Daman and Diu open up a treasure trove of natural delights for tourists. The spellbinding charm of the Diu Island where the imposing Diu Fort stands tall and stately, the pristine churches and the pretty as picture satellite village of Fudam enrapture travelers and sightseers from all across the world. The splendid beaches of Daman and Diu, a mind blowing cocktail of the sun, sea and the sand are another major tourist attraction.
Last Updated on: 3rd April 2013