New Delhi - Mr. R S Sachdeva, Chair, Punjab State Chapter, PHD Chamber of Commerce and Industry welcomed CM Punjab’s decision to meet Industrialists from all the sectors. This is indeed a welcome move which will address the long pending demands of the Industry.

It is a wonderful opportunity for the industrialists to share their industrial perspective. It will provide congenial atmosphere for industry to flourish and make Punjab a front-running industrial state in the Country, said Mr. Sachdeva. Punjab has shown rapid economic recovery in post-pandemic times. Gross State Domestic Product in constant prices grows at 6% in 2022-23. Compositional structure of Punjab economy has broadly remained similar except small rise in the share of service sector from 44% in 2011-12 to 46% in 2022-23 in GSDP of Punjab, said Mr. Sachdeva. Punjab holds utmost potential for major breakthrough in industrial sector. After a decline in growth of industrial sector for few years, it re-bounced strongly from 0.31% growth in 2020-21 to 7% in 2021-22. In 2022-23, industrial sector of Punjab grew at 4%, said Mr. Sachdeva.

Reforms in agriculture sector with focused approach on agri-business and food processing, new industrial environment with special focus on MSMEs and expansion of financial, insurance, telecom and internet services in the rural areas would foster a strong and sustainable growth trajectory in Punjab, said Mr. Sachdeva