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 10.30 per cent between 2011-12 and 2020-21 reaching Rs 6.44 lakh crore (US$ 92.19 billion).
Punjab’s road, rail and air transport network, connectivity, construction of bridges and infrastructure facilities are rated among the best. As of February 2020, Punjab had total installed power generation capacity of 14,205.42 MW of which 8,741.48 MW was contributed by thermal power, 3,818.62 MW by hydropower, 1,448.50 MW by renewable power and 196.81 MW by nuclear power.
According to the Department for Promotion of Industry and Internal Trade (DPIIT), cumulative FDI inflows to Punjab between April 2000–September 2019 amounted to US$ 2.39 billion. 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$ 6.03 billion in FY19 and reached US$ 4.055 billion during April-December 2019.
- During 2019, Punjab Government received 57 IEMs with proposed investments of Rs 1,843 crore (US$ 263.70 million).
- During 2018-19, Punjab had 199 government colleges, 179 private aided colleges, 10 government universities,15 private universities and one deemed to be universities.
- 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 foodgrain production during 2018-19 is stood at 30.44 million metric tonnes, as per state’s economic survey 2018-19. Horticulture production in the state reached 7,342.12 thousand metric tonnes in 2018-19, as per the third advance estimates. Basmati rice is the most exported commodity from the state. Its exports reached US$ 597.22 million in FY19 and US$ 471.72 million between Apr-Dec 2019.
- There are 33 mega agro processing projects and 19 cold storage chains in the state.
- 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. State is the source of 95 per cent of India’s Woollen Knitwear production, 85 per cent of India’s sewing machine production and 75 per cent of India’s sports goods production.
- In FY20 (till December 2019), Punjab exported cotton yarn worth US$ 349.47 million and ready-made garments (manmade fibres) worth US$ 157.09 million.