CHANDIGARH, October 14: Punjab’s emergence as a manufacturing hotspot gained further momentum as Ludhiana-based Happy Forgings Limited (HFL) announced a ₹438-crore greenfield project to expand its auto components production base. The investment is expected to generate over 1,250 jobs and deepen the state’s growing automobile and engineering ecosystem.
The announcement marks another addition to a string of large-scale industrial commitments under Chief Minister Bhagwant Singh Mann’s “Make in Punjab” campaign, which aims to attract domestic manufacturing and reduce reliance on imported components.
Industries and Commerce Minister Sanjiv Arora said the company’s decision reflects renewed investor confidence in Punjab’s policy environment. “Happy Forgings’ latest investment reinforces Punjab’s position as a serious player in advanced manufacturing. Our single-window clearances and simplified policies are designed to give investors confidence and stability,” Arora said.
Founded in 1979 by Paritosh Kumar Garg, Happy Forgings has grown from a small bicycle pedal manufacturer into India’s fourth-largest forging firm. Its Ludhiana headquarters houses integrated facilities for forging, machining, heat treatment, and quality control, catering to clients such as Ashok Leyland, Eicher, JCB India, and Mahindra.
The new plant will produce high-performance crankshafts and precision auto parts using advanced CNC machining, CAD/CAM tools, and laser cutting systems. Construction began in 2019 and is targeted for completion by 2025–26. The project forms part of the company’s ₹550-crore expansion strategy launched in 2019 to double its production capacity and strengthen export capability.
With a workforce of about 4,000 and total investments exceeding ₹1,500 crore, Happy Forgings is already one of Punjab’s largest industrial employers. A broader ₹1,000-crore investment plan announced earlier this year includes diversification into heavy industrial parts for the energy, mining, and defense sectors, with over 2,000 additional jobs projected.
Punjab’s automotive supply chain now contributes nearly 15% of the state’s industrial output, with Ludhiana—home to over 500 ancillary units—emerging as a key node for vehicle, tractor, and EV components. Since 2022, the state has drawn over ₹50,000 crore in new industrial investment, largely driven by the auto and light engineering segments.
The government has coupled these inflows with structural reforms: exemption of land development fees, a dedicated Fasttrack Punjab portal for clearances, and a ₹200-crore R&D fund for MSMEs. The 2025–26 state budget also earmarks ₹10 crore for skill training aligned with electric vehicle and precision tooling sectors.
“Punjab’s economic transition is now visible on the ground,” a senior industries official said. “Investments like Happy Forgings are creating a multiplier effect across supply chains, logistics, and technical education.”
The Mann government plans to spotlight such projects at the Progressive Punjab Investors Summit in Mohali from March 13–15, 2026, which aims to draw ₹20,000 crore in new investments in green energy, advanced manufacturing, and innovation-led industries.
