Introduction
Haryana is among the northernmost states in India and is adjacent to Delhi, the national capital of India. It is surrounded by Uttar Pradesh in the east, Punjab in the west, Himachal Pradesh in the north, and Rajasthan in the south. The state surrounds the national capital city, New Delhi, from three sides. Historically a rural state, Haryana today is a well-developed industrial state.
The state is one of India's largest automobile hubs and accounts for two-thirds of passenger cars, 50% of tractors and 60% of motorcycles manufactured in the country. The state has also emerged as a base for the knowledge industry, including IT and biotechnology. Haryana is the third-largest exporter of software and one of the preferred destinations for IT/ITeS facilities.
As per the advance estimates for 2024-25, the state’s GSDP at current prices has been estimated at Rs. 12,16,044 crore (US$ 145.11 billion). The state’s GSDP (in Rs.) expanded at a CAGR of 9.39% between 2015-16 and 2024-25.
The State Government of Haryana has been committed to creating a progressive business environment. The state offers a wide range of fiscal and policy incentives for businesses under the Industrial and Investment Policy, of 2011. Haryana ranked the third best state in the country under ease of doing business in the Business Reforms Action Plan 2017. As of October 2020, the state had seven exporting Special Economic Zones (SEZs).
Recent Developments
- Merchandise exports from Haryana reached US$ 12.06 billion in FY20, US$ 11.60 billion in FY21 and US$ 15.55 billion in FY22. It eventually reached at US$ 17.66 billion in FY24.
- According to the Department for Promotion of Industry and Internal Trade (DPIIT), cumulative Foreign Direct Investment (FDI) inflows in Haryana stood at US$ 1.91 billion in FY24 and was US$ 9.73 billion between October 2019- March 2024.
Key Sectors
- Krishi Kiosk online service for farmers was launched in June 2019 to provide information about the Government’s current and upcoming schemes and help them file claims under Pradhan Mantri Fasal Yojana.
- Haryana is a preferred destination for auto majors and auto component manufacturers. The state is host to many large automotive players. Automobiles and auto component exports from Haryana were ~US$ 1.070.3 million in FY20 and reached US$ 618.7 million in FY21.
- Gurgaon has emerged as a preferred destination for the IT industry in north India with more than 400 IT and ITeS companies.
- Haryana aggressively promotes organic farming; financial assistance is provided to farmers for the production and use of vermicompost. Agriculture is one of the biggest employment generators in rural Haryana, with strong potential in value addition & exports. The state exported key agricultural products (basmati rice) during the year 2021, 2022 & 2023 (December 2023) of 99,570 MT out of which export order of 93070 MT have been executed.
- Districts such as Panipat, Gurugram, Faridabad, Hisar, and Sonipat have developed into robust textile centres in Haryana. Readymade cotton garments are one of the major exports from Haryana. Readymade cotton garments are one of the major exports from Haryana. Exports reached US$ 834.87 million in FY20 and US$ 385.08 million in FY21. Maruti Suzuki India (MSI), the country's largest carmaker, plans to invest over Rs. 18,000 crore (US$ 2.42 billion) on a new manufacturing site in Haryana by 2021.
- According to Haryana’s Deputy Chief Minister, Mr. Dushyant Chautala’s address in June 2021, the state would outline a strategy to produce electric vehicles and convert petrol-diesel vehicles to electric vehicles and subsequently, invite proposals after consultations with vehicle makers and industry experts.
- Given the problems faced by the people following traffic congestion due to railway crossings, the Chief Minister directed the officials to prepare a new action plan to resolve the problem. Under this, Rohtak got the gift of a railway bypass with the completion of the elevated railway line project in the district. After that, the work of the elevated railway line project started in Kurukshetra, which is likely to be completed by the end of this year. Now the state government has also made a project of elevated railway lines in Bahadurgarh and Kaithal.
FACTFILE
Capital
ChandigarhGeographical Area (sq km)
44,212State Language
Hindi, Punjabi and EnglishLiteracy Rate
75.5 per centKey Industries:
Automotive
Agro based industry
IT and ITeS
Textiles
Oil refining
Biotechnology
Petrochemicals
Related News
MOREPartners
