Business and Economy of Daman

The tiny port town of Daman was once under the Portuguese rule for about four and a half centuries, till it got liberated in 1961 and Daman and Diu was later granted the status of union territory. Home to a number of heritage sites, as well as man- made attractions and a plethora of picnic spots, Daman is fast developing into a beautiful belt for tourism. Its convenient location, with easy accessibility and communication has made it an ideal base for setting up various industries. The economy of Daman thus depends on tourism, fishing, agriculture and industries.

Tourism and Ancillary Industries

Daman with plenty of resorts and hotels contribute a lot towards the economic development of Daman. Owing to the various tax concessions, shopping is another important activity contributing to the economy of Daman. Various efforts are being undertaken by the government to promote tourism in Daman including maintenance of parks and gardens, lighting arrangement in various tourist spots, improving the road conditions, publicizing tourism in Daman etc. These efforts are being rewarded as Daman is experiencing an increased influx of tourists, especially over the recent years.
Emblem of Daman Tourism

Fishing Industry in Daman

Due to its proximity to the sea, fishing is one of the major economic activities carried out in Daman. It is practised on a large scale here as the water bodies in Daman have high productivity in fish. It is estimated that about 40 per cent of the total population is engaged in fishing. Shark, prawns, dhara, ghol, Bombay duck, lobster, silver fish, cat fish, eel etc have great demand within the country as well as in international markets. The fisheries department in Daman is making all efforts to encourage this occupation .Apart from providing 455 fishing vessels it is also trying its level best fulfilling various other requirements to the development of this sector to its optimum in Daman.

Industries in Daman

The well-connected communication network, tax concessions, availability of land and labour has proved instrumental in the development of various industries in Daman. There are a number of registered industrial units in the industrial estates of Somnath, Dabhel, Bhimpore and Kadaiya. Chemicals, medicines, beer, packaging products, country liquor etc are manufactured here. Plastic domestic household items form the major export in Daman. Royal distilleries and Blossom Industries of Khemani Group are popular brewery plants in Daman, producing various types of liquor. For boosting the industrial development of Daman, a multipurpose organisation, Omnibus Industrial Development Corporation (OIDC) has been set up. It looks after big infrastructure projects in Daman and its functions include promotion of housing, industrial estates, branded computers, liquor, tourism etc.Some Large Scale Industries or Public Sector Undertakings in Daman are mentioned below:

• Suzion Energy Ltd., Daman
• Gini & Jony apparel Pvt. Ltd., Daman
• Siyaram Silk Mill, Daman
• Cello Pens Pvt. Ltd., Daman
• Anchor Electrical Pvt. Ltd., Daman
• Kris Flexipacks (P) Ltd., Daman

Apart from these many there are many medium sized industrial units too like Wockhardt ltd., Cello writing instruments & containers, Sahajanand Medical Techologies Pvt.Ltd., Prima Plastic Ltd, Daman
and Lexi Pvt Ltd. These few along along with numerous others contribute a lot in the economy of Daman.

Banking Services in Daman

Being one of the rapidly developing tourist centres in India, a number of major banks have set up their branches in various parts of Daman. Apart from the branches, there are ATMs at convenient locations in the city, enabling the people to carry out various transactions with ease and as per their convenience. Some of the major banks, with their branches and ATMs in Daman include Axis Bank, Bank of Baroda, State Bank of India, Yes Bank, HDFC, Dena Bank, Federal Bank, Citizen Credit Co-operative Bank etc.