Punjab pulls in Rs 1.5 lakh crore investment since 2022, says minister

Punjab has attracted Rs 1.5 lakh crore in investments since 2022, Industry and Commerce Minister Sanjeev Arora said on Thursday.

He said the investments reflect ongoing efforts by the state government to make Punjab a preferred destination for industry, while signalling momentum ahead of the 6th Progressive Punjab Investors Summit, scheduled to be held from March 13 to 15, 2026, in Mohali.

Arora outlined major investment commitments received during the last five months. These 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 (Rs 300-400 crore).

He said recent roadshows and overseas visits to Japan and South Korea were successful and are expected to yield further foreign investment. According to Arora, the government is ensuring industrial approvals are issued within 5 to 45 days.

Punjab has been awarded the “Top Achiever” status under the Business Reforms Action Plan (BRAP) 2024 by the central government. To cut 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 provide faster and consolidated approvals. More than 2,500 compliance requirements have been simplified, digitised or rationalised to lower the 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. He said around 2,000 units have benefited from this provision.

The minister added that 24 sectoral committees have submitted reports for a new industrial policy, which is expected to be released by January 2026.