The present study is confined to manufacture of transport equipments and parts industry of organised manufacturing sectors of Punjab for the period of 1980-81 to 2002-03, at three digit level. Major source of data for the study is Annual Survey of Industries (ASI). Growth rate of total factor productivity is positive and significant for the transport equipment and parts industry in pre-reform period ; however, this momentum could not be maintained in post-reform period, where growth rate turned to negative. Growth rate of total factor productivity of transport equipment and parts industry and at its disaggregate level [manufacture of motor vehicle industry (NIC-341), manufacture of railways and tramway locomotives and rolling stock industry (NIC-352) and manufacture of transport n.e.c. industry (NIC-359)] is higher in pre-reform period as compared to the post-reform period.