Punjab has attracted investment proposals worth ₹1.92 lakh crore since 2022 and is now eyeing defence and aerospace as the next growth driver, said industries and commerce minister Aman Arora said on Tuesday.
Arora stated this after inaugurating the 9th CII Manufacturing Excellence Exposition in Chandigarh. He was accompanied by former chief of the air staff Air Chief Marshal BS Dhanoa (retired). The minister said that Punjab received 1,626 proposals worth ₹32,110 crore with 91,236 jobs in the first six months of the current financial year alone. “Every proposal means a new or bigger factory, more jobs and more business for local suppliers,” he added, calling manufacturing the backbone of the state’s economy.
The minister said the government was enabling industry to meet global demands through the revamped FastTrack Punjab single-window system — an online portal with all permissions and 45-working-day time-bound approvals — while the new Industrial and Business Development Policy-2026 offered incentives up to 125% of capital investment in priority sectors including auto components, EVs, defence and aerospace, electronics, textiles, food processing and sports goods.
Arora said defence and aerospace were the next big opportunity for Punjab’s engineering units already making precision parts. He also urged large companies and PSUs to increase sourcing from the state’s MSMEs. “When local suppliers grow, the whole industry grows,” he said, urging industry to work closely with Punjab’s ITIs, polytechnics and engineering colleges so that skilled youth get good jobs within the state.
{{/usCountry}}Arora said defence and aerospace were the next big opportunity for Punjab’s engineering units already making precision parts. He also urged large companies and PSUs to increase sourcing from the state’s MSMEs. “When local suppliers grow, the whole industry grows,” he said, urging industry to work closely with Punjab’s ITIs, polytechnics and engineering colleges so that skilled youth get good jobs within the state.
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