Latest update: February, 2016
Last Updated: February, 2016
PUNJAB State Report | November, 2015
Punjab, one of the northernmost states of India, is bordered by the Pakistani province of Punjab to its west, Jammu & Kashmir in the north, Himachal Pradesh in the northeast, Haryana in the south and southeast, and Rajasthan in the southwest.
The confluence of five rivers makes Punjab’s agricultural land rich and productive. Approximately 82 per cent of the state’s land is under cultivation compared with the national average of 40 per cent.
Punjab's fertile and productive soil has accorded it the status of 'Granary of India' and the 'Bread basket of India'. Occupying only 1.5 per cent of India's geographical area, the state accounts for about 17 per cent of the country's wheat production and 11 per cent of rice production. This makes it suitable for agro-based industries, dairy farming and products, and other food processing industries. During FY 2014-15, Punjab accounted for 60 per cent share of wheat and about 35 per cent share of rice procured by the Indian government for food security.
Punjab has strong agriculture base with the huge production of principal crops. The production of sugarcane has increased from 6,675 thousand metric tonnes in 2013-14 to 7,200 thousand metric tonnes in 2014-15. For the same period of time, production of barley has increased from 46 thousand metric tonnes to 72 thousand metric tonnes.
Punjab has been ranked first in India in terms of infrastructure facilities offered. Punjab’s road, rail and air transport network, connectivity, construction of bridges and infrastructure facilities are rated among the best. As of January 2016, Punjab had a total installed power generation capacity of 11,255.4 megawatt (MW).
Punjab has easiest procedures to set up a business, according to a study by the World Bank and KPMG. Punjab had set up a Bureau of Investment Promotion (BIP) in December 2013 for one-stop clearance of investment proposals.BIP has powers to give approvals related to pollution control, excise and taxation, labour issues, factory licences, boiler registrations, town and country planning, land and power-related issues.
Punjab has emerged as a key hub for textile-based industries including yarn, readymade garments and hosiery. With the development of apparel parks, favourable textile policy and other incentives for the creation of textile infrastructure, the state offers opportunities for investment.
The average gross state domestic product (GSDP) growth rate for the state of Punjab was about 10.32 per cent between 2004-05 and 2014-15. The state provides investment opportunities in sectors such as textiles, agro-based industries, IT & ITeS, automotive and auto components, sports goods and light engineering goods.
Last Updated: May 18, 2016