Piping and Instrumentation Diagrams (P&ID) are ubiquitous in several manufacturing, oil and gas enterprises for representing engineering schematics and equipment layout. There is an urgent need to extract and digitize information from P&IDs without the cost of annotating a varying set of symbols for each new use case. A robust one-shot learning approach for symbol recognition i.e., localization followed by classification, would therefore go a long way towards this goal. Our method works by sampling pixels sequentially along the different contour boundaries in the image. These sampled points form paths which are used in the prototypical line diagram to construct a graph that captures the structure of the contours. Subsequently, the prototypical graphs are fed into a Dynamic Graph Convolutional Neural Network (DGCNN) which is trained to classify graphs into one of the given symbol classes. Further, we append embeddings from a Resnet-34 network which is trained on symbol images containing sampled points to make the classification network more robust. Since, many symbols in P&ID are structurally very similar to each other, we utilize Arcface loss during DGCNN training which helps in maximizing symbol class separability by producing highly discriminative embeddings. The images consist of components attached on the pipeline (straight line). The sampled points segregated around the symbol regions are used for the classification task. The proposed pipeline, named OSSR-PID, is fast and gives outstanding performance for recognition of symbols on a synthetic dataset of 100 P&ID diagrams. We also compare our method against prior-work on a real-world private dataset of 12 P&ID sheets and obtain comparable/superior results. Remarkably, it is able to achieve such excellent performance using only one prototypical example per symbol.