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 state’s GSDP (in Rs) increased at a Compound Annual Growth Rate of 10.2 per cent between 2011-12 and 2017-18 to Rs 4.77 trillion (US$ 74.09 billion).
Punjab’s road, rail and air transport network, connectivity, construction of bridges and infrastructure facilities are rated among the best. As of October 2018, Punjab had a total installed power generation capacity of 13,432.44 megawatt (MW).
The state has attracted Foreign Direct Investment (FDI) equity inflows worth US$ 1.472 billion during the period April 2000 to June 2018. The state government had set up a Bureau of Investment Promotion (BIP) in December 2013 for one-stop clearance of investment proposals.
- Total merchandise exports from Punjab were US$ 5.79 billion in FY18 and US$ 3 billion between Apr-Sep 2018.
- During 2018 (up to September) Punjab government received 33 Industrial Entrepreneur Memorandum Intentions (IEMs) with proposed investments of Rs 19,809 crore (US$ 2.82 billion).
- In 2018-19, commissioning of 4,100 km of railway tracks is targeted which includes 1,000 km of new lines, 1,000 km of gauge conversion and 2,100 km of doubling.
- Gross Enrolment Ratio for higher education in the state reached 30.3 in 2017-18.
- Punjab’s agricultural land is rich and productive. The state is also known as the ‘Bread Basket of India’ and led to first Green Revolution in the country. By 2025, it is expected that the state will be among the leading producers of non-food grains as well as exporter of various agri-products. During 2017-18, gross area sown was estimated at 7.9 million hectares. Total food grain production during 2017-18 is estimated at 31.38 million metric tonnes, as per state’s economic survey 2017-18. Horticulture production in the state reached 6,956 thousand metric tonnes in 2017-18, as per the first advance estimates. Basmati rice is the most exported commodity from the state. It’s exports reached US$ 991.14 million in FY18 and US$ 455.33 million between Apr-Sep 2018.
- The state 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. In FY18, Punjab exported cotton yarn worth US$ 593.78 million and Ready Made Garments (Manmade Fibres) worth US$ 332.68 million.