Punjab, a north Indian state, has seen significant growth in the past few years, from being at the forefront of agriculture technologies and housing to hosting some of the top agribusiness industries. There has also been an increase in other sectors. Industries in Punjab have also been quite prominent, representing India in the export market and also helping the rural communities. The state is also a major contributor to the country’s economy. It boasts a vibrant culture as well, which attracts a vast number of tourists every year.
Business landscape of Punjab
Punjab has a thriving business landscape that comprises a diverse range of sectors such as agriculture, information technology, manufacturing and many more. While Punjab has a prominent agribusiness sector, which is also known as the backbone of the economy, in recent years, it has witnessed substantial growth in IT and other service sectors such as finance, education, healthcare, etc. Since Punjab has the famous Golden Temple, it also has a strong tourism sector. Moreover, the state has witnessed a rise in malls, shopping centres and substantial retail markets, strengthening the retail sector. There has been an increase in startups, especially in the tech and e-commerce sectors.
Types of industries in Punjab
Punjab, a northern state in India, boasts a diverse industrial landscape that encompasses a wide range of sectors. One of the most prominent industries in Punjab is agriculture, with the state known as the Granary of India due to its significant production of wheat and rice. Additionally, Punjab has a robust manufacturing sector, including the production of textiles, apparel and sporting goods. The state also has a burgeoning IT and software industry, particularly in cities like Mohali and Chandigarh. Furthermore, Punjab is a hub for the pharmaceutical and healthcare industry, with several pharmaceutical companies operating in the region. This mix of industries reflects the state’s dynamic economic profile and contributes significantly to its overall development and growth.
Top companies in Punjab
Mahindra and Mahindra
Company type: Public
Industry: Automotive manufacturing
Location: Opposite Hotel International, G T Road, Jalandhar, Punjab 144001
Founded in: 1945
Mahindra and Mahindra is a well-known multinational corporation in Punjab that manufactures automotive parts as well as farm equipment. While the company also has a presence in the IT sector, it is widely recognized for manufacturing a wide range of vehicles, from tractors to SUVs, catering to the urban and rural populations. The company’s involvement in the agribusiness sector benefits the farmers by manufacturing equipment that helps farmers increase their efficiency. The company’s services have had a significant positive impact on the agricultural industry in Punjab, which is one of the major contributors to the state’s economy.
Hero Cycles
Company type: Private
Industry: Automotive manufacturing
Location: Dhandari Kalan, Ludhiana, Punjab 141016
Founded in: 1956
Hero Cycles is a bicycle manufacturing industry that has a significant presence in Ludhiana, Punjab. It is one of the leading producers of bicycles in Punjab and delivers premium, high-end bicycles. Hero is a major player in the global bicycle market as it manufactures a wide range of bikes for various purposes like biking, racing, etc. The company is one of the major exporters of bicycles and sells its products in almost 70 countries, generating huge revenues for the country. It also equips its bikes with the latest trends and technologies, fostering growth and innovation in the state.
Nestle
Company type: Public
Industry: Food and beverage
Location: Moga, Patti Sandhwan, Punjab 142001
Founded in: 1905
Nestle is a global food and beverage manufacturer that has a significant presence in Punjab. It has numerous manufacturing units in the state. It is known for producing high-quality, well-tested food products like Maggi, Cerelac, Nescafe coffee, etc., which are popular in the Indian market. The company boosts the state’s economy by supporting local farmers and sourcing raw materials, especially milk for dairy-based products. It has played a significant role in the growth of rural communities in Punjab, and it has also generated substantial employment opportunities.
Emerson
Company type: Public
Industry: Manufacturing and technology
Location: Quark City India Pvt. Ltd, Sahibzada Ajit Singh Nagar, Punjab 160059
Founded in: 1890
Emerson is another global giant specialising in engineering and tech solutions and manufacturing automotive equipment and tools for industries. It offers a wide range of automation solutions such as controllers, sensors, actuators, etc. Besides this, it is also responsible for manufacturing compressors, refrigerants, condensers, and evaporators. Emerson also partners with local businesses while providing them with specialised solutions to improve their efficiency and productivity.
Unilever
Company type: Public
Industry: Consumer goods
Location: Rajpura, Punjab 140401
Founded in: 1930
Unilever (Hindustan Unilever Limited) is a global consumer goods manufacturer with a diverse portfolio. It manufactures food, personal care, cigarettes, stationary products, etc; Knorr, Surf Excel, Dove, and Lux are among their most famous products in the Indian market. The company also manufactures various papers, from packaging to paperboards and specialty papers. Unilever is also involved in the agribusiness sector and produces grains and pulses. The industry is known for globally exporting products and plays a significant role in the Indian export market.
ITC
Company type: Public
Industry: Conglomerate
Location: Jhal Thikriwala, Punjab 144602
Founded in: 1910
ITC is another prominent and well-established conglomerate that works in various sectors such as agribusiness, tobacco, hospitality, etc. It manufactures a wide range of products, especially flours, spices, biscuits, and much more. It partners with farmers in North India. It sources a wide range of crops from them while offering them the latest technology and good quality agricultural inputs, helping them improve their crop quality. The company is also one of the leading companies in the tobacco industry. The manufacturing unit in Punjab is quite significant as it sources the raw materials from the farmers, again helping them grow.
Siemens
Company type: Public
Industry: Energy, healthcare, infrastructure
Location: Karam Colony, Beantpura, Sector 32A, Ludhiana, Punjab 141010
Founded in: 1847
Siemens is known for manufacturing a wide range of equipment used in the power generation industry, such as gas turbines, steam turbines, transformers, generators, circuit breakers, etc.; It is significant in the transport, infrastructure, and healthcare industries. It produces control systems that promote automation of industrial processes in various sectors, especially the food and beverage industry. It also manufactures equipment for the automotive industry and healthcare systems like X-ray systems, MRI scanners, and CT scanners. Siemens is a global leader in manufacturing equipment, and it helps several other industries boost their efficiency, contributing to Punjab’s economy.
Dasmesh Agro Industries
Company type: Public
Industry: Manufacturing
Location: Pohir, Punjab 141101
Founded in: 1987
Dasmesh Agro Industries is the first innovator and manufacturer of Haramba Thresher and Paddy Threshers in India. They started the manufacturing of Dasmesh Haramba Thresher and Paddy Threshers in 1987. Established in 1987, Dasmesh Agro Industries is a fast growing company in the field of manufacturing best quality Agriculture Implements. Their organisation is backed by a huge manufacturing unit that is established over a wide area of land. The entire unit is equipped with most advanced machinery and tools equipment in order to fabricate the best quality products for. Moreover, this unit is managed and operated by our team of experienced and skilled professionals that enable us to meet the bulk urgent requirements of clients on time and offers optimum productivity. Apart from this, they regularly upgrade our manufacturing unit with the latest market developments and technology to enhance the production capacity.
PepsiCo
Company type: Public
Industry: Food and beverage
Location: Channo, Punjab 148026
Founded in: 1965
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $86 billion in net revenue in 2022, driven by a complimentary beverage and convenient foods portfolio that includes Lay’s, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, Quaker and SodaStream. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.
Cipla
Company type: MNC
Industry: Pharma
Location: Batala, Amritsar, Punjab 143001
Founded in: 1935
Cipla is a leading pharmaceutical company from India with presence across the world. It was established in 1935 as Chemical Industrial & Pharmaceutical Laboratories Ltd and changed to its current name in 1984. The company has a vast portfolio with more than 1,500 products in the market. The company’s business is divided into three strategic units – APIs, respiratory and Cipla Global Access. Its largest market is India, followed by Africa and North America. The company’s total revenue reached Rs 22,753 crore ($ 2.76 billion) in FY23.
Sun Pharmaceutical Industries
Company type: MNC
Industry: Pharmaceutical
Location: Taunsa, Punjab 144533
Founded in: 1983
Sun Pharmaceutical Industries (Sun Pharma) is the fourth largest specialty generic pharmaceutical company in the world with global revenues of over $ 5.1 billion. Supported by more than 40 manufacturing facilities, they provide high-quality, affordable medicines, trusted by healthcare professionals and patients, to more than 100 countries across the globe.
Impact of industries on Punjab
Industries in Punjab have had several positive effects on the state, having played a significant role in boosting its economy. These industries generate huge revenues, and most of their production is exported, earning foreign exchange for the state.
Moreover, these industries also generate employment opportunities, creating jobs for the youth of Punjab and boosting the economy. Several agribusiness industries also partner with local farmers and source their raw materials from them, helping the local communities and fostering growth and innovation. Several industries also offer training programs, promoting skill development among people and increasing employability.
Real estate demand in Punjab
Industries in Punjab have led to the formation of several industrial zones, attracting significant businesses to invest in the real estate around the area and increasing the real estate demand. Establishing these industries requires vast spaces, and they contribute significantly to the increased demand for commercial real estate. These industries also promote infrastructural development and urbanisation, both factors contributing towards an increase in property rates.
Besides this, industries hire a vast workforce that often prefers to live near their workplace and rent apartments or houses near such areas. This leads to increased demand for rental spaces, boosting the rental market.
FAQs
What are some significant industries in Punjab?
Agriculture, manufacturing and textiles are the major industries of Punjab.
What are the biggest companies in Punjab?
Mahindra & Mahindra Hindustan Unilever are some of the biggest companies in Punjab.
Is Punjab a high-income state?
Punjab is one of the biggest states with high per capita income as compared to the rest of the conditions.
In which cities of Punjab are the most industries located?
Most industries of Punjab are concentrated in Ludhiana and Jalandhar.
Is there any well-known automotive industry in Punjab?
Yes, Punjab has several automotive sectors, namely, Emerson, Mahindra & Mahindra and Siemens.
What are the growth prospects in Punjab?
Punjab has always had a growth rate above the national average, so the growth rate has been consistently growing.
What is the minimum investment needed for setting up an industry in Punjab?
The minimum investment required to set up an industry in Punjab is Rs 35-50 lakhs.
What are the most significant service sector companies in Punjab?
HDFC and Infosys are the most considerable service sector companies operating in Punjab.
What is the share of agriculture in Punjab’s GDP?
The agriculture sector accounts for 29% of the revenues coming from the state.
What are some agribusiness industries in Punjab?
Nestle, Supple Tek Private Ltd. Pari Agro Exports and ITC are among the biggest agribusiness industries in Punjab.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
