Ludhiana/Chandigarh, October 30, 2025: Vardhman Special Steels Limited has announced a ₹342 crore investment to establish a new alloy and specialty steel plant in Ludhiana, expected to generate around 1,469 jobs. The move adds momentum to Punjab’s ongoing push to attract domestic investment and expand industrial capacity.
The plant, equipped with modern technology, is part of a wave of manufacturing and expansion projects taking place under the state’s Invest Punjab initiative. Chief Minister Bhagwant Singh Mann said the project shows the outcome of policy reforms intended to simplify industrial approvals. “Our focus is to make Punjab a state where business thrives without delay,” he said.
According to government figures, Punjab has recorded more than 5,200 investments worth approximately ₹89,000 crore in less than three years, which officials estimate will create close to 3.9 lakh jobs.
The Vardhman project follows a series of major investments in the state. Tata Steel has expanded its secondary steel operations in Ludhiana with a ₹2,600 crore project, while Sonalika Tractors has invested ₹1,300 crore in Hoshiarpur. In the automotive sector, BMW Group is setting up a new greenfield plant in the Chandigarh region.
Industry officials noted that reforms including digital clearances and single-window access have streamlined the approval process. Punjab’s industrial policy provides a full exemption from Change of Land Use (CLU) charges and SGST refunds up to 125% of fixed capital investment.
Under the Government at Your Doorstep programme, officials have begun visiting industrial sites to address pending issues and accelerate project completion. “The approach is helping improve coordination between investors and the administration,” said a senior official from the industry department.
The government’s investment facilitation portal — which officials said ranks first among 28 states — has also seen record participation, with more than 58,000 small and medium enterprises registered.
Industrialists say the system has eased entry barriers for smaller players. “We are seeing faster responses and fewer procedural hurdles,” said an entrepreneur from the Ludhiana steel sector. “It has become easier to expand operations.”
While state officials say the reform push is yielding results, observers note that sustaining growth will require continued policy stability. Economists pointed out that Punjab’s industrial expansion is diversifying beyond its traditional focus on agriculture.
“Large-scale investments in steel, manufacturing, and automotive segments show a structural shift,” said an independent analyst. “The challenge now is ensuring infrastructure keeps pace with industrial growth.”
Chief Minister Mann said the government intends to build on recent progress. “Punjab will continue to support both domestic and global investors,” he said. “Our goal is a strong, job-rich economy built on trust and efficiency.”
