Chandigarh, October 30, 2025: Punjab’s steel sector has received a major push with a ₹342 crore greenfield investment by Vardhman Special Steels Limited in Ludhiana, expected to create nearly 1,500 new jobs. Officials said the investment comes under the state’s industrial policy that aims to strengthen manufacturing and create employment opportunities across districts.
The new facility, focused on alloy and specialty steel production, is equipped with advanced technology and is expected to serve both domestic and export markets. “This investment reflects growing confidence in Punjab’s manufacturing ecosystem,” Chief Minister Bhagwant Singh Mann said in a statement. “Our government is committed to providing a transparent and efficient environment for industries to grow.”
According to official data, Punjab has attracted 5,265 investment proposals worth about ₹89,000 crore in the past 32 months through the Invest Punjab initiative. The government estimates these projects will generate over 3.8 lakh jobs statewide.
Vardhman’s new project joins a list of major investments that include Tata Steel’s ₹2,600 crore expansion in Ludhiana and Sonalika Tractors’ ₹1,300 crore manufacturing and foundry projects in Hoshiarpur. BMW Group is also setting up a greenfield automotive unit in the Chandigarh region.
Industry officials said the recent surge in investment stems from policy reforms and easier clearances. Under the state’s industrial policy, investors can access incentives such as a 100% exemption on Change of Land Use (CLU) charges and a refund of up to 125% of State Goods and Services Tax (SGST) on fixed capital investments.
The government has also rolled out the Government at Your Doorstep initiative, aimed at resolving industrial grievances quickly. “Officials are reaching out directly to entrepreneurs to resolve issues in real time,” said an official from the Department of Industries and Commerce.
Mann said the government intends to continue simplifying processes for new and existing businesses. “This is just the beginning,” he noted. “Punjab remains open for business and focused on sustainable growth.”
The Vardhman investment, industry observers said, may mark a new phase for Punjab’s steel and manufacturing sectors, once heavily concentrated in a few districts. Analysts noted that the trend now extends to smaller towns as well, signaling a broader shift toward balanced industrial development.
Punjab’s online investment portal, which officials said ranks among the best performing in the country, has also helped streamline registrations and clearances. More than 58,000 small and medium enterprises have enrolled through the system so far.
Economists believe these changes are contributing to renewed investor confidence. “If the implementation continues efficiently, Punjab could become a strong alternative industrial base in northern India,” said an analyst familiar with the state’s economic policies.
