Mohali, March 15 Nahar Group Chairman Kamal Oswal announced on Sunday an investment of Rs 1,500 crore in the modernization of existing textile, renewable energy units, as well as the establishment of a data center in Mohali.
Addressing a gathering on the concluding day of the Progressive Punjab Investors' Summit 2026 here, Oswal said the three-day summit underscored that Punjab is once again ready for industry, investment, and growth.
He said the summit has demonstrated that Punjab is emerging as an attractive investment destination, with significant investments announced by leading industrial houses in the country.
He said the investment proposals announced during the summit would create tremendous job opportunities and industrial growth.
Oswal said that Punjab's industrial growth had slowed down, and the industry was looking outside the state, but under the leadership of Chief Minister Bhagwant Mann, a new confidence has been restored to the state by creating a more investor-friendly environment.
He said that investors are once again looking towards Punjab, and the state will surely regain its rightful place among the industrialized states across the country.
Arisudana Industries MD, Gagan Khanna expressed gratitude to the Punjab government for its constant and encouraging cooperation for the industry.
He said that Punjab will soon witness a rapid rise in industrial growth to become the number one industrial state in the country.
Tynor's Managing Director P J Singh described the summit as a platform to showcase investment opportunities.
He also thanked Mann for his relentless efforts to build a new image from a state in despair to the most progressive state in the country.
He said that the unmatched commitment of the state government was highly appreciated as it was always there to resolve the issues and concerns of the industry.
He also announced an investment of Rs 1,000 crore in the next three years.
In his address, Plaksha University Vice Chancellor, Dr Rudra Pratap, said that with an investment of Rs 950 crore already committed to building a world-class university focused on reimagining education and innovation.
He also announced plans for an additional Rs 5,000 crore in the university to nurture human productivity and intellectual capital, transforming Punjab into a hub for cutting-edge technology and entrepreneurship.
Sanatan Polycot's Joint Managing Director Ajay Datani said that Punjab is emerging as one of the most promising destinations for industrial investment as it is not only attracting investments but also efficiently implementing, sustaining and nurturing industries, creating value for the state, the nation and the global economy.
Amit Thapar from Ganga Acrowools Ltd said that his company will invest Rs 750 crore.
Vervio India's Managing Director, Ashish Kumar, emphasized that the company's paddy straw-based unit in Punjab is the largest plant in the country, with a capacity of 33 tonnes of compressed biogas production.
He said that the biggest stakeholders of the company are the farmers of Punjab.