Business and Economy of DamanThe 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.
Agriculture in Daman
Tourism and Ancillary Industries
Emblem of Daman Tourism
Fishing Industry in Daman
Industries in DamanThe 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
and Lexi Pvt Ltd. These few along along with numerous others contribute a lot in the economy of Daman.
Banking Services in DamanBeing 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.
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