Growth of Export of Industrial Goods from Punjab during Pre- and Post-Reform Period

Abstract

Present study focuses on the examination of growth of export of industrial goods from Punjab during pre- and post-reform period. Yearly growth rates have been computed to capture year-to-year fluctuations and Compound Annual Growth Rates (CAGRs) are estimated to view the impact of reform process on pace of growth momentum in exports. All CAGRs have been estimated by fitting a function of exponential form and their significance was tested by applying t-test. Study revealed the fact that under the impact of liberalization policy of government, growth of exports from the state have experienced steep accelertion even more than total country's exports. Study also observed that the small scale sector accounts for the major chunk of total state exports. Export activity seems to continue to be very much centralized in eight commodities (hosiery & readymade garments, drugs & pharmaceuticals, bicycle & parts, sports goods, other items, food products, cotton yarn/textiles, and hand tools & machine tools) and six districts (Ludhiana, Jalandhar, Amritsar, Patiala, Kapurthala and Ropar). No doubt, Punjab is performing well in the field of industrial goods' exports, still it has the potential to go ahead and for that concerted efforts are the need of the hour.