Punjab, a state renowned for its rich cultural heritage and entrepreneurial spirit, boasts a diverse and dynamic economy. As of the 2024-2025 fiscal year, Punjab’s Gross Domestic Product (GDP) stands at ₹8.7 lakh crore, positioning it as the 16th largest state economy in India. The state’s per capita GDP is approximately ₹2,64,000, ranking 19th among Indian states.
The economic landscape of Punjab varies across its districts, each contributing uniquely to the state’s overall wealth. While comprehensive district-wise net worth data is not readily available, per capita income serves as a useful indicator of economic prosperity at the district level. According to the Economic and Statistical Organisation of Punjab, the per capita income for the year 2020-21 is as follows.
Punjab is home to several individuals who have significantly contributed to its economic landscape. The Hurun India Rich List 2024 features prominent personalities from Punjab, underscoring the state’s entrepreneurial vigor.
From Bathinda:
Rajinder Mittal: Chairman of BCL Industries, with a net worth of ₹1,200 crores.
From Mandi Gobindghar:
Prem Chand Bansal: Founder of Bansal Alloys and Metals, holding a net worth of ₹1,800 crore.
From Amritsar:
Sukhbir Singh: Owner of SS Group, with a net worth of ₹4,500 crore.
From Ludhiana
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Varinder Gupta & Family: IOL Chemicals & Pharmaceuticals, net worth of ₹1,300 crore.
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S. Gurdeep Singh: Fastway Transmission, net worth of ₹2,000 crore.
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Onkar Singh Pahwa & Family: Avon Cycles, net worth of ₹2,100 crore.
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Shiv Parshad Mittal & Family: Aarti Steels, net worth of ₹2,600 crore.
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Avinash Gupta & Family: RN Gupta, net worth of ₹2,900 crore.
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Anoop Bector & Family: Bector Foods, net worth of ₹4,400 crore.
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SP Oswal: Vardhman Textiles, net worth of ₹7,400 crore.
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Paritosh Kumar: Happy Forgings, net worth of ₹10,300 crore.
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Rajinder Gupta: Chairman of Trident Company, leading with a net worth of ₹14,800 crore, making him not only the wealthiest individual in Ludhiana but also in Punjab.
Punjab’s growing economic landscape is reflected in the success of its top industrialists, who have built thriving businesses across diverse sectors. While Rajinder Gupta of Trident Company leads as the wealthiest individual in Punjab, cities like Ludhiana, Amritsar, and Mandi Gobindghar continue to emerge as an economic powerhouse, hosting some of the state’s most successful entrepreneurs. The presence of industry leaders across various fields, from textiles and pharmaceuticals to steel and food processing, highlights Punjab’s balanced industrial growth. This diverse entrepreneurial ecosystem not only strengthens the state’s economy but also generates employment and innovation, paving the way for a prosperous future.
These individuals exemplify the entrepreneurial spirit and economic resilience that define Punjab’s contribution to India’s economic tapestry.