Punjab industry - Industrial Products

PunjabState Monitorwhich are exported all over the world.In the current consumerism context, nostate quite makes the grade unless there areflourishing malls. Punjab has earned thesobriquet of being the ‘Mall Capital of India’,accounting for 3.3 per cent of the country’stotal private consumption expenditure at Rs66,000 crores in 2007-08. Today the staterepresents a Higher purchasing power of Rs1,022 per person per month than thenational average of Rs 636. Interestingdevelopments on the mall front include theestablishment of Bharti-Walmart outlets inAmritsar & Zirkpur; the proposeddevelopment of Metro Cash & Carry atZirakpur, Ludhiana and Jalandhar with aninvestment of Rs 900 crores and theproposed development of retail malls,shopping centres by DLF Group, AnsalGroup and Spirit Global Constructions andsuch others.Sure-footed growthGiven such quality and quantity ofgrowth and growth-propelling initiatives,Punjab has become not just a sought afterinvestment destination but its exports toohave grown at a CAGR of 14.82 per centfrom Rs 7,014 crores (2002-03) to Rs 17,000crores (2009-10). IT, textiles, chemicals andpetrochemicals, apparels and biotechnologywill provide the new face of Punjab. Theproblems are far from over though; povertyand rural deprivation stillhaunt the state; its financesstill need attending to. Whatinspires hope is the scale ofrebuilding operations that thestate has embarked upon.This is an endeavour thatthrows up investmentopportunities in every aspectof the economy. The recentNon-Resident Indianconvention saw participationfrom over 100 NRIs of Punjaborigin from across the globe,including USA, U.K., France,Canada, Netherlands andNorway, apart from topcorporates attending. With theprivate sector participating inthe sense of excitement thatall this has engendered, onebelieves that Punjab willovercome. As Mr Badal says:“Our aims are clear, our visionis focussed and our approachis firm and sure-footed”.February 2011PURCHASE 165