Punjab registers 22% increase in exports

The exports from Punjab during the financial year 2005-06 witnessed an increase of 22 per cent against negative growth of 11.40 per cent during the corresponding period last year.

The exports from the state touched Rs 9,656 crore in 2005-06, as compared to Rs 7,914 crore during 2004-05, whereas in 2003-04, the export was of Rs 8,933 crore.

However, its contribution towards country's total exports declined to 2.12 per cent in 2005-06 as compared to 2.22 per cent in the previous fiscal, as per the data compiled by the sub committee of SLBC( State level Bankers Commmitte), Punjab.

From the commodity-wise export turnover, it has been observed that during last year, yarn & textiles (Rs 3,362 crore) ranked first followed by cycle & cycle parts (Rs 1,184 crore), readymade garments (Rs 985 crore), rice (Rs 637 crore), hand tools (Rs 692 crore) and sport goods (Rs 471 crore).

Also, the district-wise exports revealed exports from Ludhiana (Rs ,6624 crore) ranked first, followed by Jalandhar (Rs 1,488 crore), Amritsar (Rs 950 crore) and Patiala (Rs. 420 crore).

Rice, yarn & textiles, hand tools, machine tools, auto parts, sewing machines, cycle & cycle parts have shown positive growth in export turnover during 2005-06 as compared to corresponding period last year.

On the other hand, the export of food products and leather goods declined during 2005-06.

Punjab National Bank Executive Director K Raghuraman said, "Punjab is a big market for us. Both Punjab and Haryana contribute 20 per cent of the total business for the bank. And in the coming years, we would further increase our share in these two states."