Punjab CM Bhagwant Mann attracts mega investments from Japan & Korea; Mohali projected as top destination for high-tech industries and innovation.

Mega investments are being planned in the state, stated Punjab Chief Minister Bhagwant Mann upon his return from a visit to Japan and South Korea, where he had traveled to attract industrial investments.

Projecting Mohali as the most preferred destination, he stated that the enthusiastic response from investors during his visits to the two nations would represent a significant milestone in the state’s industrial development.

He stated that Mohali possesses the top institutions that cultivate a skilled workforce, offers clean air, and benefits from excellent air, rail, and road connectivity, as well as well-designed infrastructure.

It is regarded as the city of the future, as Bengaluru, Hyderabad, and Ahmedabad have become excessively congested. Prospective investors seek improved living conditions. We are prepared to receive all investors interested in Punjab — the premier destination for future development,” he stated.

Mann stated that all prominent figures in the Japanese and Korean industries he encountered during the ten-day tour were impressed with the initiatives his government was providing to facilitate ease of doing business.

commerce and financial incentives. Not only Mohali but also numerous other universities are located within a 100 km radius. He stated that industry-ready expertise is available for them in Punjab. The Japanese and Koreans possess advanced technology, and the city offers an ideal environment to foster the growth of high-tech and innovation industries. This facilitates a harmonious integration of technology and talent, he stated. When these investors visit Punjab, whether to establish greenfield projects or consider brownfield expansions of their existing ventures (such as Aichi Steel Corp, Toppan Speciality Films, Oji Holdings, Yanmar, and Isuzu), it will provide the essential momentum for the state’s industrial development, he stated.

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The industry’s contribution to Punjab’s gross value added exceeds 27 percent, with the manufacturing sector expanding at a rate of 4.6 percent, encompassing textiles, chemicals, and engineering products. The Mann government, recognizing that the sole means of revitalizing the nation’s declining economy is through attracting industrial investment, has now been actively encouraging investors. The state is scheduled to announce its industrial policies across multiple sectors to attract increased investment.

The CM, while providing details of investors he met alongside Industry Minister Sanjeev Arora, stated that the majority of company representatives they engaged with were involved in research and development, electric vehicle mobility, and skill development initiatives.

Companies such as Honda Motor Co. have demonstrated interest in investigating component manufacturing, while a non-binding Memorandum of Understanding was signed between Invest Punjab and Toppan to establish a skill excellence centre. Korean companies such as Nongshim have also responded positively, he stated, noting that the majority of the industrialists he has encountered in both countries are expected to attend the Investment Summit in Punjab from March 14 to 16.