Chief minister Bhagwant Mann on Monday said Punjab’s industrial-friendly environment has helped the state attract investments worth around ₹1.78 lakh crore, with the potential to generate nearly six lakh jobs.
Event Context
Addressing a gathering after laying the foundation stone of the country’s first-of-its-kind ₹1,116 crore forging and machining unit, being established by Vardhman Special Steels in partnership with Japan’s Aichi Steel, Mann termed it as a major boost to the state’s industrial ecosystem and employment generation.
He said this investment reflected the confidence that international companies have in Punjab’s skilled workforce, work culture and industrial strength.
Player Focus
Referring to the Punjab Industrial and Business Development Policy, 2026, Mann said it provides support through 24 sectoral policies and promotes advanced manufacturing, exports, technology, employment and sustainable industrial growth.
“The state has established a unique system of one office, one portal, single window-single pen, and single-point responsibility. ‘Invest Punjab’ serves as the single point of contact for investors from the first discussion to approvals, construction, production and future expansion,” Mann said.
Match Outlook
The project is slated to provide direct employment to over 500 youth, with Mann expressing confidence that future expansion by the Vardhman-Aichi venture could create jobs for another 2,000 people.
“The investment was enhanced from the initially proposed ₹500 crore to ₹1,116 crore. The plant will manufacture high-value automobile components for domestic and international markets. This marks the dawn of a new era for Punjab’s industrial sector,” he said.
Recalling his visit to Japan in December 2025, the chief minister said he had met Aichi Steel’s leadership in Nagoya, where the company signed an MoU with Vardhman to explore the project.
“Aichi Steel is a respected Japanese company and an important supplier to the Toyota Group. Within a few months, the MoU has transformed into a real project. This is the true meaning of translating policy into practice and commitment into reality,” he said.
Mann said this project would bring advanced Japanese forging technology to Punjab and manufacture high-value automobile components for India as well as markets in Europe, ASEAN, Africa and Mexico.
“Punjab will not only produce special steel but will also manufacture precision-engineered finished components. This is an important transition from basic manufacturing to high-value manufacturing and will further strengthen Ludhiana’s position as a major centre for engineering, automobile parts and advanced manufacturing,” he said. Mann also noted that Tata Steel had already established its second-largest plant after Jamshedpur in Punjab with an investment of ₹3,200 crore. “It is also a matter of immense pride that leading companies such as Sanatan Textiles, Nestlé, CLAAS, Freudenberg, Cargill, Verbio and Danone have started operations in the state,” Mann said.
‘Punjab top performer in school education’
Earlier, the chief minister inaugurated a new academic block at Government Primary School, Lohara, constructed at the cost of ₹5 crore by Vardhman Textiles Group. Mann said his government’s sustained focus on strengthening government schools, modernising educational infrastructure and investing in teacher training has transformed the state into the country’s top performer in school education.
“The remarkable success of government school students in competitive examinations such as NEET (National Eligibility cum Entrance Test), JEE (Joint Entrance Examination) and the Punjab State Talent Search Examination (PSTSE) reflects the far-reaching impact of the government’s education reforms,” he said. This new block comprises 18 classrooms for students, along with furniture, and three rooms for the teaching staff.
