CHANDIGARH, 9 October 2025 — Punjab is taking a major step toward industrialisation with the announcement by Jalandhar-based Oaykay Metcorp of a ₹309-crore investment in a new hand tools manufacturing plant in the state. The move aligns with Chief Minister Bhagwant Mann’s vision of making Punjab a centre not only for agriculture but also for industry.
“This investment is a vote of confidence in Punjab’s business environment,” Mann said.
“With systems like the Fast Track Portal and Invest Punjab, industrial approvals are faster, and entrepreneurs can focus on growth rather than red tape.”
The new factory will produce hand tools including wrenches, pliers, and hammers, which are already recognised globally for quality.
Officials said the facility will provide employment opportunities to thousands, supporting craftsmen, engineers, and youth seeking career growth.
“Oaykay Metcorp’s tools are famous worldwide. This new plant will strengthen the ‘Made in Punjab’ brand, delivering high-quality products from Jalandhar to markets in America and Europe,” an industry spokesperson said.
The state government has facilitated the project through simplified approvals, land allocation, and other incentives under its industrial policy.
Observers say the move reflects a broader trend of homegrown companies investing in Punjab, signalling renewed confidence in the state’s economic potential.
“This ₹309-crore investment is not just about machinery. It is about skill, employment, and pride for Punjab’s workforce,” Mann added.
“The government’s goal is to create an industrial ecosystem that complements agriculture and builds a sustainable economy for our youth.”
The hand tools plant is expected to significantly contribute to local supply chains, supporting logistics, construction, and related industries.
Officials said the investment also demonstrates Punjab’s capacity to become a global manufacturing hub while providing opportunities for small and medium enterprises in the region.
With this initiative, Punjab is positioning itself as an emerging industrial powerhouse. Observers say the state’s proactive policies, combined with strong local entrepreneurship, are attracting major investments and creating jobs, reinforcing the message that “Invest in Best” is becoming a reality in Punjab.
“This is the beginning of a new chapter for Punjab’s industry,” a senior official said.
“The combination of government support and private sector ambition is setting the stage for long-term economic growth and prosperity.”
The factory is expected to be operational within the next few years, providing both direct and indirect employment and strengthening the state’s reputation as a centre for high-quality manufacturing.
The announcement is part of the event Invest Punjab, held at Yashobhoomi, New Delhi, from 8th to 11th October 2025. An initiative, showcasing Punjab’s innovation and startup ecosystem.
Additionally, the Progressive Punjab Investors’ Summit 2026 is scheduled to take place in Chandigarh. The first domestic roadshow for this summit was held in Gurugram on September 29, 2025, where Chief Minister Bhagwant Mann and AAP leader Arvind Kejriwal engaged with industry leaders to promote investment opportunities in Punjab .
