Chandigarh, Sep 25 (PTI) Punjab is fast emerging as a major industrial hub and preferred investment destination, with the Chief Minister Bhagwant Mann-led government attracting Rs 1.89 lakh crore in investments over the last four years, an official statement said here on Friday.
This generated employment potential for 6.31 lakh youth and is driving industrial growth beyond traditional centres, it said.
With Mohali leading new investment proposals at Rs 9,478 crore, followed by Ludhiana at Rs 4,968 crore, the expanding investment footprint reflects growing investor confidence while opening new avenues for jobs, entrepreneurship and higher incomes across Punjab, the statement said.
It said that on Friday, Chief Minister Mann reviewed the progress of the Industries Department here.
The statement, quoting Mann, said, “The remarkable scale of investment reflects the growing confidence of domestic and global investors in Punjab’s industrial ecosystem. Our government has consistently worked to create a congenial, transparent and investor-friendly business environment, backed by improved infrastructure, responsive governance and streamlined approvals.”
The chief minister said Punjab’s traditional strengths in agriculture, manufacturing, engineering, textiles and food processing, coupled with the state’s emerging capabilities in technology, renewable energy, automobiles and modern manufacturing, are providing a strong foundation for the next phase of industrial growth.
He pointed out that several leading national and international companies, including Tata Steel, JSW Steel, AICHI Steels, Vardhman, Nestle, Hindustan Lever, Cargill, De Heus, HMEL, Santhan Textiles and Freudenberg, among others, have invested or expanded their presence in Punjab.
Mann said, “SAS Nagar (Mohali) is rapidly transforming into one of Punjab’s principal economic and industrial growth engines and has emerged as the leading district in new investment proposals received through common application forms (CAFs) during the financial years 2022-23 to 2026-27. Mohali received investment proposals worth Rs 9,478 crore, followed by Ludhiana with Rs 4,968 crore, Patiala with Rs 2,590 crore and Hoshiarpur with Rs 2,003 crore.”
“Mohali and Ludhiana alone accounted for 49.8 per cent of the total investments routed through CAFs during the period, underlining the growing importance of these two cities as major economic centres of Punjab. Mohali’s IT, technology and innovation ecosystem is expanding rapidly.
“The city is steadily developing into a major technology destination and has the potential to emerge as the ‘Silicon Valley of India’,” he said.
Several other districts are also making a significant contribution to Punjab’s industrial growth story, he said.
Mann said, “The geographical spread of investment demonstrates that industrial development is no longer confined to a few traditional industrial centres. New investment is creating opportunities across different regions of Punjab and strengthening the foundations of balanced economic development.”
The chief minister said his government is committed to providing the required ecosystem for technology companies, start-ups, knowledge-based industries and innovative enterprises so that Punjab’s educated and skilled youth can find quality employment opportunities within the state.
He said, “The investment of Rs 1.89 lakh crore and employment potential of around 6.31 lakh youth are significant indicators of the transformation underway in Punjab’s industrial sector.” PTI SUN KSS
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