Punjab Attracts ₹1.5 Lakh Crore Investments Since 2022, Generating More Than 5 Lakh Jobs

Chandigarh: Punjab has attracted investments worth Rs 1.5 lakh crore since 2022, resulting in the creation of over five lakh employment opportunities across the state, Industry and Commerce Minister Sanjeev Arora said on Thursday. He said the investments reflect the state government's efforts to make Punjab a preferred destination for industry.

Major investment commitments in the last five months include HPCL Mittal Energy Ltd (Rs 2,600 crore), Vardhman Steels (Rs 3,000 crore), Trident Group (Rs 2,000 crore), IOL Chemicals and Pharmaceuticals Ltd (Rs 1,400 crore), Happy Forgings Ltd (Rs 1,000 crore), Veerka Beverages Pvt Ltd (Rs 987 crore), Fortis Healthcare, Mohali (Rs 900 crore), Amber Enterprises India Ltd (Rs 500 crore), Infosys Ltd (Rs 285 crore) and Toppan Speciality Films Pvt Ltd (Lrs 300-400 crore).

Arora said the 6th Progressive Punjab Investors Summit will be held from March 13 to 15, 2026, in Mohali and is expected to further strengthen the state's industrial ecosystem. He said recent roadshows and overseas visits to Japan and South Korea were successful and are expected to result in fresh foreign investments. The state government is ensuring that all industrial approvals are granted within 5 to 45 days, he added.

Punjab has been awarded the "Top Achiever" status under the Business Reforms Action Plan (BRAP) 2024 by the central government, the minister said. To reduce the cost of doing business, the state has introduced a single stamp duty of 0.25 per cent on loan amounts, capped at Rs 5 lakh, and reduced the registration fee on equitable mortgage from Rs 1 lakh to Rs 1,000.

Arora said the RTB Act 2.0 has been launched on the Punjab Invest portal to enable faster and consolidated approvals. He added that more than 2,500 compliance requirements have been simplified, digitised or rationalised to reduce the compliance burden on businesses. Amendments to the Punjab Right to Business Act 2020 now allow industries to start or expand operations on self-declaration, with in-principle approvals issued within 5 to 18 days. Around 2,000 units have already benefited from this provision, he said. The minister said 24 sectoral committees have submitted reports for a new industrial policy, which is expected to be released by January 2026.

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