Big investment achievement for Punjab on third day of Japan tour, agreement signed with steel company

Chandigarh News: On the third day of his visit to Japan, Punjab Chief Minister Bhagwant Singh Mann has achieved a major investment achievement for the state. During this, Japan’s reputed steel manufacturing company Aichi Steel assured to further expand its cooperation with Vardhman Special Steels of Punjab. In the presence of the Chief Minister, both the companies signed an important agreement, paving the way for a potential investment of about Rs 500 crore.

Told a historic day for Punjab

Describing it as a historic day for Punjab, the Chief Minister said that Aichi Steel, the steel arm of Toyota Group, is strengthening this partnership with the aim of giving a new impetus to the industrial development in the state. He informed that Aichi Steel already holds 24.9% stake in Vardhman Special Steels and as a technology partner is a strong example of Japan-India cooperation in the industrial environment of Punjab. Now the company will conduct a detailed study on future factory operations in Punjab, which also includes evaluation of the proposed investment of Rs 500 crore.

Bhagwant Mann said that the Punjab government will provide all possible support to Japanese companies, so that they can easily expand their business in the state. He expressed confidence that the technology of Aichi Group and expertise of Vardhman Group will open a new chapter of industrial development in the state.

What is the goal of the government?

The Chief Minister also invited Aichi Steel to participate in the Progressive Punjab Investors Summit 2026 (13–15 March, ISB Mohali). He believes that this conference will prove to be a big platform to increase investment, strengthen partnerships and attract global industries to Punjab. He said that the state government aims to create more employment opportunities for the youth and provide a stable, reliable and transparent environment for investors. Highlighting Punjab’s age-old ties with Japanese industries, CM Mann said that Japanese investors have time and again reposed their trust in Punjab, and this new partnership further strengthens that trust.

Punjab included among the most investment-friendly states of the country

The Chief Minister also said that Punjab is today among the most investment-friendly states in the country and achieving the leading position in the BRAP 2024 ranking is a testament to the state’s transparent and investor-centric policies. He expressed hope that with this forward-looking thinking, Punjab will become the preferred destination for global industries in the times to come.