Prodigy finance, Business

By Lohit Bansal, Managing Director, PLPBPunjab- the food bowl of India has been celebrated as the pride of our nation for its rich culture, agricultural dominance, and industrious youth is now facing a critical challenge: the mass migration of its young population, which became global news with deportees from the US being grounded at Amritsar Airport. Factors like economic distress, limited job opportunities, and the allurement of a better life abroad, this exodus has been hollowing out villages and weakening local economies.Concentrated and continual strategic reforms hold immense potential to reverse this trend and could help Punjab emerge as a role model state, reclaim its youth potential and restore its glory.Understanding the Migration ChallengeThe migration of Punjabi youth is fuelled by both "push and pull" factors. Push factors such as lack of growth opportunities within the state, unbalanced ecosystem with a mix of unemployment, cross-border permeation of contraband drugs and their usage etc., while pull factors like living on high standards with better growth prospects, higher wages, and improved living standards abroad. According to a study by Punjab Agricultural University, 72% of households with migrant members cite low income and ineffective governance as primary reasons for leaving. Additionally, 96% of migrants are aged between 15-45 years, highlighting the loss of Punjab's most productive demographic. Further, a recent seminar hosted by Guru Nanak Dev University revealed that migration surged significantly after 2014, with Canada, Australia, New Zealand, and the USA emerging as top destinations. Experts pointed out that while migration offers financial benefits to families in the short term, it drains Punjab of its human resource in the long term.The Rise in UnemploymentThe latest report from the Periodic Labour Force Survey (PLFS) highlights a troubling rise in youth unemployment in Punjab. Between October and December 2024, unemployment among individuals aged 15-29 climbed to 14.9%, up from 12.2% in the previous quarter. Female unemployment rates were even higher at 21.7%, compared to 12.8% for men. This disparity underscores the urgent need for targeted interventions to create quality jobs for both men and women.Rethinking Opportunities in PunjabTo address the listed challenges effectively, the state of Punjab needs to create an ecosystem that nurtures local talent while offering ample growth opportunities. Several strategies can help achieve this:Transforming Education Systems:Punjab’s education system could align with industry demands to equip students and youth with practical skills aligned with individual capabilities. Vocational training programs could be integrated and introduced into school curriculums to prepare youth for emerging sectors like AI, technology, agro-processing, Food-tech, clean-tech and renewable energy. Initiatives such as skill development grants—like the recently released budget by the state government—can empower NGOs, Self Help Groups to offer courses in relevant industries besides computer training, fashion designing, and beauty.Promoting Entrepreneurship:The state has known of various stalwarts and entrepreneurial spirit, which needs to be reignited to invigorate local economies and reduce dependency on migration. Programs like Startup Punjab can offer mentorship, funding, and infrastructure support to young entrepreneurs. By fostering innovation and self-reliance, Punjab can transform its youth into job creators rather than job seekers. Various established businesses could join hands to uplift the right ideas and back them with guidance and support. Revitalizing Agriculture:Agriculture continues to remain as the backbone of Punjab’s economy but has lost its appeal amongst the youth due to declining profitability. Agro-processing units and diversification into high-value crops can make farming more lucrative. Training programs on sustainable practices can attract young people back to agriculture while addressing environmental concerns. One of the biggest challenges the state is facing is the declining water table owing to excessive usage of underground water. The recharging of groundwater, in itself, could be the next billion-dollar idea for Punjab and many states across India.Building Infrastructure:Developing globally benchmarked industrial parks with the adoption of best practices, technology hubs, and business incubators can create employment opportunities within the state. Improved infrastructure could also attract domestic and foreign investments, positioning Punjab as a competitive player in sectors like manufacturing and IT. Not to miss promoting Punjab’s culture, heritage and tourism as another big boosters.Engaging Youth in Governance:Making youth aware of governance and right practices Involving young people in decision-making processes can lead to innovative solutions tailored to their needs. Programs like Punjab Youth Leaders Program (PYLP) can empower youth to contribute actively to governance while fostering leadership skills.A Vision for TomorrowThe path forward is clear: with determination and strategic foresight, Punjab can transform itself into a beacon of hope for its youth—and an inspiration for other states facing similar challenges. The time has come for Punjab to rise once more as a symbol of progress and prosperity for its people and the nation at large. Let’s ‘Make in Punjab United’!

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