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Punjab is a highly fertile land as it is formed by tributaries of the Indus, Ravi, Beas, Sutluj, and the river Ghaggar. The word Punjab is made up of two Persian words- Punj, which means five; and Aab, which means water. It is primarily an agrarian state and agriculture occupies the most place of Punjab’s economy. About 70% of the people are engaged in agriculture. The fertilizer consumption of Punjab is the highest in India. Its milk production is 10% of India’s total production.

Land area: 50,362 sq. km.
Population: 20.3 million
Capital: Chandigarh
Per Capita Income: Rs 14,188
Inflation Rate: 9.8%

Industrial Policy

New Industrial Policy 1996 has given special thrust to the development of Agro-based industry and to build a conducive industrial climate to attract fresh investments and also facilitate the growth and expansion of existing industry. The State has been categorized into three areas for providing incentives for industrial development. These categories are -

Category-A: Districts of Amritsar, Gurdaspur, Ferozepur, Faridkot, Muketsar, Moga and Mansa and designated Kandi areas except areas falling within the Municipal Limits of towns of population of more than one lakh.

Category - B: The rest of the State, except areas under category A & C

Category - C: The towns with population of more than one lakh in districts other than the A category A. The areas falling within the Chandigarh Capital Periphery, except Free Enterprises Zone, Industrial Areas/Focal Points/Industrial Estates and areas identified and declared by the State Govt. for industrial use.

• Subsidy of upto 30%, of fixed capital investment upto Rs. 5 million, in Category-A
• Subsidy of upto 20%, of fixed capital investment upto Rs. 3 million, in the rest of the state
• Sales tax exemption upto 300% of fixed capital investment for 10 years in category-A & 150% fixed capital investment for 7 years in category-B
• New Electronic units coming up in the State after 24th June, 1991, shall be provided exemption from Sales/Purchase tax for a period of 10 years from the date of production. After the expiry of 10 years, sale/purchase tax would be charged at the rate of 3.5% for further 3 years.
• Octroi exemption of upto 50% for electronics units for 6 years from the date of registration.
  Equity participation by the Punjab State Industrial and Development Corporation in selected projects
• Special subsidy of 5% of turnover, upto Rs. 1 million, for computer software or system engineering systems units for 5 years
• Hotels, restaurants and amusement/adventure parks will be eligible for Investment incentive @ 25% subject to maximum limit of Rs. 2.5 million irrespective of their location.
• Setting up of an exclusive Focal Point in Mohali for NRI entrepreneurs.
  Reservation of Industrial plots for allotment in all Focal Points and Industrial Estates in the State for NRIs.
• Preference to NRI entrepreneurs by State Industrial Development and other promotional Corporations, while finalising proposals for joint ventures/assisted sector projects.
• A Special Cell in the Udyog Sahayak Directorate of Industries, to provide Single Window
• Facility and to ensure time-bound clearance to all investment proposals received from NRIs.