Abstract
Industrial growth is one of the essential drivers for the economic growth of any economy. In this paper, an attempt made to measure the growth rate of the Punjab industry in India during the period of post-liberalization era-spanning 2003 -2004 to 2017-2018. The study measures the magnitude and nature of the relationship among different components such as numbers of factories, fixed capital, investment, and profits, Net Value Added. Growth parameters of the manufacturing sector have used for the study. Econometric models, namely, Unit root test and Granger Causality applied in the existing research for analysis. The study shows that there is a strong positive relationship between the growth of the industry in Punjab and growth in India. Economic Reforms and liberalization process fail to bring significant improvements in the performance of the industry in terms of the factors, namely, number of units, employment, production, and fixed investment in Punjab. Finally, the paper also provided recommendations to boost the development of industries in Punjab.