Mohali Leads in Investment
While reviewing the progress of the Industries Department, Chief Minister Bhagwant Singh Mann stated that the substantial investment in Punjab reflects the growing confidence of both local and global investors in the state’s industrial ecosystem.
In terms of new investment proposals, SAS Nagar (Mohali) topped the list with ₹9,478 crore. This was followed by Ludhiana (₹4,968 crore), Patiala (₹2,590 crore), and Hoshiarpur (₹2,003 crore).
Among other districts, Fatehgarh Sahib received proposals worth ₹1,265 crore, Bathinda ₹1,248 crore, Kapurthala ₹1,037 crore, and Jalandhar ₹1,003 crore.
Nearly Half of the Investment in Mohali and Ludhiana
Chief Minister Bhagwant Singh Mann noted that Mohali and Ludhiana alone account for 49.8 percent of the total investment proposals received via the Common Application Form during the period from the 2022-23 to 2026-27 financial years.
The ecosystem for IT, technology, and innovation is expanding rapidly in Mohali. According to Chief Minister Bhagwant Singh Mann, the city possesses immense potential to develop into a major national technology hub and emerge as ‘India’s Silicon Valley’ in the future.
Major Industrial Groups Invest in Punjab
Several prominent national and international companies have invested in Punjab or expanded their operations within the state. These include companies such as Tata Steel, JSW Steel, Aichi Steels, Vardhman, Nestle, Hindustan Lever, Cargill, De Heus, HMEL, Sanathan Textiles, and Freudenberg.
The Punjab government states that it is fostering an investor-friendly and transparent business environment through improved infrastructure, accountable administration, and streamlined approval processes.
Focus on New Sectors Alongside Traditional Industries
Punjab holds a traditional stronghold in sectors such as agriculture, manufacturing, engineering, textiles, and food processing. Simultaneously, new sectors including technology, renewable energy, automobiles, and modern manufacturing are rapidly developing in the state.
Investment proposals received through the Common Application Form (CAF) span sectors such as real estate, housing and infrastructure, alloy steel and metal manufacturing, agriculture and food processing, bio-energy, renewable resources, automobile components, and textiles. The Punjab government believes that diversifying the industrial base will strengthen the economy and reduce reliance on traditional sectors.
These clusters aim to provide industries with shared infrastructure, modern technology, skill development, economies of scale, and better market connectivity.
Approval for Two Major Industrial Park Projects
Chief Minister Bhagwant Singh Mann stated that industrial growth is impossible without modern and reliable infrastructure. In line with this, two major industrial park projects have been approved for Punjab.
These projects are expected to create modern industrial infrastructure that facilitates the establishment of new industries, the expansion of existing units, and the attraction of additional investment. The Punjab government is also working to improve connectivity, industrial infrastructure, the ease of doing business, and administrative support so that investors do not face unnecessary paperwork.
Focus on Employment and Entrepreneurship Alongside Investment
Chief Minister Bhagwant Singh Mann stated that the objective of the state’s industrial policy is not merely to boost investment figures. The Punjab government’s true goal is to translate investments into employment, entrepreneurship, increased income, and better opportunities for the youth.
Investments worth ₹1.89 lakh crore and the potential for employment for approximately 6.31 lakh youths are significant indicators of the major transformation taking place in Punjab’s industrial sector.
Aiming to Make Punjab a Preferred Investment Destination
According to the Punjab government, the state possesses the necessary talent, entrepreneurial spirit, skilled human resources, strategic geographical location, and a robust industrial base to become a premier investment destination.
Working as a partner to industries, the Punjab government is committed to providing speedy approvals, superior infrastructure, policy support, and an accountable administration. He stated that Punjab is ready to welcome new investments and ideas, and every possible effort will be made to become the top choice for both domestic and global investors.