Punjab Chief Minister Bhagwant Mann’s Japan visit entered its third day with a major industrial breakthrough. Japan’s renowned Aichi Steel Corporation has decided to expand its partnership with Punjab-based Vardhman Special Steels, announcing a potential investment of nearly ₹500 crore. The agreement was formally signed in the presence of CM Mann.
Aichi Steel, widely known as the steel arm of Toyota, already holds 24.9% equity in Vardhman. With this new collaboration, the company aims to significantly strengthen its footprint in Punjab. CM Mann described the deal as a historic milestone for Punjab’s industrial growth and a boost to Indo-Japanese economic relations.
According to Mann, Aichi Steel will conduct a detailed study on futuristic factory systems and soon finalise the proposed ₹500 crore investment plan. The combination of Aichi’s advanced technology and Vardhman’s expertise is expected to open new industrial opportunities in the state.
The Chief Minister assured full government support to facilitate the project and invited existing Japanese investors to expand operations in Punjab. He also extended an invitation to attend the upcoming Progressive Punjab Investors Summit, scheduled in Mohali from 13–15 March 2026.
