Oswal group to invest Rs 1,550 crore in Punjab

Chandigarh, Mar 9 (PTI) Punjab Industries, Commerce and Investment Promotion Minister Sanjeev Arora on Monday said the JL Oswal Group will invest around Rs 1,550 crore in the state over the next three years following the launch of the Punjab Industrial and Business Development Policy 2026.

Arora said the investment reflects the growing confidence of industrial leaders in Punjab's improving business climate and investor-friendly policies.

He said the investment will be made across several sectors, including digital infrastructure, textiles, industrial parks, hospitality, apparel manufacturing and renewable energy.

According to the minister, the proposed investment is expected to generate more than 4,000 direct and indirect employment opportunities in the coming years.

He said that about Rs 500 crore will be invested in digital infrastructure through the development of an edge data centre in collaboration with the Essar Group's technology firm Black Box.

Another Rs 450 crore will be invested in modernising and expanding spinning and textile manufacturing facilities to improve productivity and competitiveness, he said.

Arora added that around Rs 400 crore will be invested in the development of logistics parks, industrial parks and related infrastructure to strengthen the state's manufacturing and supply chain network.

He further said Rs 100 crore will be invested in a hotel project to support business travel and tourism in Punjab.

Additionally, Rs 50 crore will be invested in garment manufacturing facilities and another Rs 50 crore in solar and sustainable energy solutions to support green industrial development, he added.

Arora appreciated the leadership of Kamal Oswal, chairman of the JL Oswal Group, and said the group's investment will contribute significantly to Punjab's industrial growth and employment generation.

The JL Oswal Group has industrial and infrastructure presence in several states, including Punjab, Madhya Pradesh, Rajasthan, Uttar Pradesh, Bihar, Odisha and Assam, with diversified interests in textiles, logistics, industrial infrastructure, renewable energy and hospitality, officials said. PTI VSD DRR