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Biz moguls laud Punjab govt’s industrial policy, commit ₹10k-crore investment
Chief minister Bhagwant Mann said the state secured investments worth more than ₹10,000 crore on Day 1 of the three-day Progressive Punjab Investors’ Summit-2026
Business titans who gathered in Mohali on Friday commended the Industrial and Business Development Policy-2026 unveiled by the Bhagwant Mann-led Aam Aadmi Party (AAP) government last week, committing investments worth more than ₹10,000 crore in the state.
Chief minister Bhagwant Mann said the state secured investments worth more than ₹10,000 crore on Day 1 of the three-day Progressive Punjab Investors’ Summit-2026.
He said HMEL, Tata Steel, JSW Group, Trident Group, Hero Industries and others announced plans to expand and set up their ventures in the state. The industry leaders also called the new policy a positive step toward creating a conducive environment for investment and boosting economic growth in the state.
HMEL to invest ₹2,600 cr: LN Mittal
ArcelorMittal chairman Lakshmi Niwas Mittal announced that HPCL-Mittal Energy Limited’s Guru Gobind Singh Refinery would invest ₹2,600 crore in Punjab over the coming few years. The fresh investment in the specialty and fine chemicals sector was announced by Mittal during the inaugural session of the summit.
Addressing the inaugural session, Mittal said HMEL was now moving forward with ₹2,600-crore investment in specialty and fine chemicals, which will open new opportunities for the pharma and chemical sectors.
The company – a joint venture between public sector Hindustan Petroleum Corporation Limited (HPCL) and Mittal Energy Investments Pte Limited, Singapore – is also investing in green energy in Bathinda, and will further increase its participation in renewable and sustainable energy in the future, he said.
Mittal said HMEL was also entering the fuel retail sector, with 500 retail outlets across the country. “The process has already begun, and Punjab’s first retail outlet will soon be set up in Bathinda,” he added. The outlet will be equipped with advanced technology and AI-enabled systems.
Mittal was among a dozen-odd corporate honchos, including JSW Group chairman Sajjan Jindal, Tata Steel CEO TV Narendran, Hero Enterprises chairman Sunil Kant Munjal, JL Oswal Group chairman Kamal Oswal and Vardhman Steels vice-chairman Sachit Jain, who attended the session.
Industries and commerce minister Sanjeev Arora said these business leaders not only had a strong presence in Punjab, but were also planning to expand their existing units or making new investments in the state.
Refinery production trebled to meet LPG demand
Mittal said considering the rising demand for gas in the country, production at the Bathinda oil refinery had been increased from 1,000 tonne to 3,000 tonne per day. There have been reports of LPG shortage and panic-buying in some states amid the prevailing tensions in West Asia.
He stated that HMEL had invested over ₹60,000 crore in Punjab so far, making it the state’s largest single-site investment. The project, which began in 2008 with a capacity of 9 million metric tonnes, has expanded over time and stands as the only oil refinery in the state, playing a crucial role in meeting the growing energy demand.
He further stated that with the support of the Punjab government, a world-class petrochemical complex had been established in Bathinda, producing approximately 1.2 million metric tonnes of polyethylene and 0.5 million metric tonnes of polypropylene annually. The company has also set up a bio-ethanol plant with a capacity of 300 kilolitres per day, which produces around 100 million litres annually and contributes to India’s fuel blending programme.
Mittal said a large downstream industrial ecosystem can be developed around the refining and petrochemical industry in Punjab, which would create extensive opportunities for plastic processing, specialty chemicals, packaging, auto components, textiles and other manufacturing units. He added that the government had assured that a downstream industry complex will be developed over 1,500 acres in Bathinda in the coming years.
JSW Group to expand Rajpura plant
Sajjan Jindal also announced expansion plans, stating that the group will expand the Rajpura steel plant and invest ₹3,000 crore to enhance capacity in the steel sector.
He appreciated the state government for organising the summit and other proactive initiatives. Lauding the new industrial policy, he said a policy was as good as its implementation. He said the state government was making serious efforts to bring Punjab back on track through industrial development, progressive agriculture and focus on technology, education, healthcare and real estate. “This event will go a long way in driving an industrial revolution in Punjab with industry-friendly policies,” he stressed. TV Narendran complimented the state government for turning the Tata project in Ludhiana into a reality, adding that more investment will follow in the coming time.
Rajya Sabha member and Trident Group chairman Rajinder Gupta announced that his group will invest ₹5,000 crore in Punjab over the next two years and create more than 10,000 job opportunities in the textile sector, including 5,000 jobs for women. Global Network Japan Co Ltd also expressed interest in collaborating with the state government to promote green energy, according to an official release.
