Mohali, March 13 Punjab Industries Minister Sanjeev Arora on Friday said the state government will set up a dedicated startup hub here, modeled after the world-renowned Pangyo Techno Valley in South Korea.
He also said Mohali is rapidly emerging as a major technology and startup hub under the leadership of Chief Minister Bhagwant Mann, and the city is rapidly on its way to becoming the 'Silicon Valley'.
Addressing a session titled "Brand Mohali" on the first day of the Progressive Punjab Investors' Summit 2026 here, the minister emphasised that Mohali is no longer just a satellite town but a global technology and startup destination.
Arora said the state government is establishing a dedicated startup hub at Kalkat Bhavan, modeled after the world-renowned Pangyo Techno Valley.
"Just as South Korea has its Silicon Valley, Punjab will soon have its own in Mohali. Our Chief Minister has already granted permission for this project, which will serve as a nerve centre for innovation," said the minister.
Highlighting the competitive edge of the new industrial policy, the minister informed the gathering that power reforms have been a cornerstone of the state's strategy.
"We have moved IT companies and data centres from commercial to industrial power rates. Consequently, IT firms in Mohali will now receive the cheapest power in the entire country," he stated.
He further detailed the lucrative worker subsidies, offering Rs 5,000 per worker per month for IT firms and Rs 7,000 for Global Capability Centres (GCCs), with significantly lowered eligibility barriers to encourage small and medium enterprises.
The recent auction of the Mohali Convention Centre and the opening of an Infosys Centre are milestones in the city's urban expansion.
"Mohali is emerging as a destination not just for business but for destination weddings and international conferences, given its proximity to the hills and the international airport," he added.
Touching upon the IT talent pool, Arora said Punjabis constitute a massive portion of the workforce in global tech hubs like Silicon Valley.
"By investing in Mohali, companies can hire the top one per cent of Punjabi talent who prefer to stay close to their roots and culture, ensuring a much lower attrition rate compared to other tech hubs," the minister said.
On the healthcare front, Arora congratulated the expansion of local medical facilities, including a Rs 900 crore investment in hospital infrastructure, while urging private players to focus on "affordable healthcare" for the common man.
Regarding air connectivity, the minister shared insights from recent discussions with Air India and Air India Express leadership, noting that while aircraft shortages are a global challenge, the state is pushing for more international slots to match Mohali's growth trajectory.
On this occasion, UK-based company 3 Associates announced to invest Rs 1,407 crore in the state.
The announcement was made by the CEO of 3 Associates, Jesdev Saggar, during a session titled "Unlocking Opportunities under CETA: Strengthening UK-Punjab Trade and Investment Partnerships" here.
The proposed project, with an estimated Gross Development Value (GDV) of Rs 4,700 crore, is expected to create substantial employment opportunities and further strengthen Punjab's emergence as a frontrunner in knowledge-driven and digital economy sectors.
British Deputy High Commissioner, Alba Smeriglio, described the Punjab-UK partnership as a long-term journey built on shared ambitions and mutual trust.
She noted that the India-UK Comprehensive Economic and Trade Agreement (CETA) would further deepen bilateral trade ties and open new avenues for investment and collaboration.
On this occasion, Cabinet minister Aman Arora underlined that Punjab is keen to deepen collaboration with Japanese partners in emerging sectors, including integrated EV and automotive manufacturing ecosystems, agri mechanisation, smart farming technologies and clean energy solutions.
He stated that Japan has consistently remained one of India's most dependable development partners, whose companies have played a significant role in strengthening modern industrial capabilities across infrastructure, advanced manufacturing and mobility sectors.