Punjab Chief Minister Bhagwant Mann on Thursday said that “mega investments are on the anvil” for the state, following his 10-day tour of Japan and South Korea aimed at drawing industrial investment.
Returning from the visit, the Chief Minister said the response from global investors was “overwhelming” and could mark a turning point in Punjab’s industrial growth trajectory. He projected Mohali as the “most preferred destination” for new industries, citing its skilled talent pool, world-class universities, robust connectivity and well-planned urban infrastructure.
“Mohali is the city of the future. Cities like Bengaluru, Hyderabad and Ahmedabad have become too congested. Investors today look for better living conditions, and Punjab is ready to welcome them,” Mann said.
Japan, Korea Impressed with Policies
The Chief Minister said industry leaders from both nations appreciated Punjab’s ease-of-doing-business reforms and fiscal incentives. “Within a 100 km radius of Mohali, there are several universities producing industry-ready talent. The ecosystem is perfect for high-tech and innovation-driven enterprises,” he added.
He said Japanese and Korean companies, known for advanced technologies, found strong synergy between their technological capabilities and Punjab’s talent base. Firms such as Aichi Steel Corp, Toppan Speciality Films, Oji Holdings, Yanmar and Isuzu have shown interest in greenfield projects or expansion of existing units.
“This synergy of technology and talent will boost Punjab’s industrial landscape,” Mann said.
Sectoral Growth and Government Push
Industry contributes over 27% to Punjab’s Gross Value Added. The manufacturing sector—covering textiles, chemicals, engineering goods and more—is currently growing at 4.6%.
The Mann government, determined to revive the state’s economy, is preparing to unveil new industrial policies tailored for different sectors to attract further investment.
Key Meetings and Potential Tie-Ups
CM Mann, accompanied by Industry Minister Sanjeev Arora, met several companies engaged in R&D, electric mobility, skill development and advanced manufacturing.
Honda Motor Co has shown interest in exploring component manufacturing in Punjab.
A non-binding MoU was signed between Invest Punjab and Toppan for setting up a skill excellence centre.
Korean food giant Nongshim and other companies also expressed positive intentions.
Many of these companies are expected to participate in Punjab’s Investment Summit scheduled from March 14 to 16, where further discussions are likely.
A New Chapter for Punjab?
With strong investor enthusiasm, new collaborations and upcoming policy reforms, the state government is hopeful that Punjab is on the verge of a major industrial transformation.