| Industrial Growth |
Punjab leads in the manufacture of machines and hand tools, printing and paper machinery, auto parts and electrical switchgears. Around 75% of the country's production of bicycle and allied parts comes from Punjab. Sewing machines, woollen and other hosiery items, shoddy blankets, jackets and sports goods are some of the major products.
Significant Industrial milestones
Set up by the state government, Punjab Infotech is the nodal agency for promotion and development of Electronics, Telecommunication and Information Technology Industry within the state. The Corporations major role is to handhold and assist all new projects and investment in the fields of electronics and IT.
An electronic township, ELTOP is situated on a 290-acre site in Mohali, near Chandigarh. This township is one of the fastest emerging centers for electronic production in India. Projects set up in the township cover micro-electronic devices, computers, computer peripherals, communications, colour picture TV tubes, medical electronics, X-ray equipment, EPABX systems, etc., many with technical collaborations with companies like Granger of USA, OKI and NEC of Japan, and ARE of Italy.
It also has a Semiconductor Complex (SCL), the only facility in the country for design and fabrication of large-scale integrated circuits.
The Industrial Portfolio
A number of multinationals companies have set up manufacturing facilities here. The prominent ones are Nestle, Smithkline Beecham, Pepsico, GEC (US), Ollivetti (Italy), Nippon, Hitachi, Fujitsu, OKI (Japan), Kenwood, Motorola and ICI have a prominent presence in the state.
Among the Indian companies, Ranbaxy (pharmaceuticals), Hero Cycles, Oswal Woollen Mills (Monte Carlo, Casablanca), JCT Textiles, Birla VXL (OCM) (woollen fabric), JIL (Maltova, Viva, range of wines and liquor), Gujarat Ambuja (cement), Godrej (washing machines) and ACC (cement) are the major players.
The thrust of Punjabs New Industrial Policy is on attracting fresh investment to boost industrial growth and create job opportunities for youth in the border districts and help minimize the regional disadvantage of the state.
The important industrial goals of the state are:
:: To increase annual industrial growth rate from the present 8% to 12% in the next two years.
:: To increase the present share of industry in the Gross Domestic Product (GDP) from 17 per cent to 25 per cent in the next five years.
:: To divert 15 per cent of the present rural population to manufacturing and related occupations through rapid industrialization, and thereby reduce dependence on agriculture and allied activities in the next 15 years.
At the same time, the state is taking measures to ensure that industrial pollution does not degrade the environment.
Punjabs infrastructure has been adjudged the best in the country by the Centre for Monitoring of Indian Economy (CMIE). Moreover, the skilled and disciplined manpower and a high level of productivity of industrial labor have contributed to rapid industrial growth.
The state of Punjab has an excellent network of 1,000 km of national highways, out of which around 200 km comprises the best 6 lane road with grade separation. The 95 km road length per sq. km of area is the highest in India.
R&D and Academic Institutions
The state of Punjab has some of the finest Research & Development centers and technical and academic institutions, which provide a vital impetus to the process of industrial growth and development.
There are 28 engineering colleges, 30 polytechnics and pharmacy institutions and about 120 industrial training institutes and vocational centers including the ones in the private sector. These are looked after by the Department of Technical Education and Industrial Training. Every year these technical institutes train about 2,800 engineers, 5,300 diploma holders and about 16,800 craftsmen at the certificate level.
In addition to these, three engineering colleges, seven polytechnics and 33 new industrial training institutes are in the pipeline at various levels of establishment in the state.
If you are interested in setting up a business in Punjab, you might want to download the following documents and presentations.
Tourism Policy 2003
Download PDF (Size: 136 KB)
Download Power Point Show (Size: 74 KB)
Presentation on Private Sector Investment
Download Power Point Show (Size: 121 KB)