Happy Forgings Limited to Invest ₹1,000 Crore in Punjab: Cabinet Minister Sanjeev Arora
Chandigarh, September 16, 2025 – Punjab has received a major boost to its industrial growth and employment sector with Happy Forgings Limited (HFL) announcing a fresh investment of ₹1,000 crore in Ludhiana district. The investment, facilitated under the leadership of National Convenor Shri Arvind Kejriwal and Chief Minister Shri Bhagwant Singh Mann, is expected to generate over 2,000 job opportunities, including more than 300 engineering positions.
Announcing the development, Cabinet Minister Sanjeev Arora said HFL—India’s third-largest engineering manufacturing company—specializes in forging and machining high-quality products for both domestic and international markets. The company serves diverse sectors, including commercial and passenger vehicles, agricultural equipment, off-highway machinery, power generation, railways, oil and gas, wind energy, and defense.
Since its stock exchange debut in December 2023, HFL has emerged as one of Punjab’s largest listed companies, boasting a market capitalization of ₹10,000 crore and revenue of ₹1,409 crore in FY 2024–25. With an existing workforce of nearly 4,000 employees and capital investments worth ₹1,500 crore, Punjab remains HFL’s primary manufacturing hub.
Key Customers of HFL
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Commercial Vehicles: Ashok Leyland, Eicher, Meritor, Mahindra
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Agricultural Equipment: TAFE, Escorts, Swaraj, Sonalika, John Deere
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Off-Highway: JCB, Wipro, Dana, Hendrickson
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Industrial: Cummins, Generac, Bonfiglioli, Toyota Tsusho, Kohler, Liebherr
Future Expansion
Ashish Garg, Managing Director of HFL, confirmed that the company will establish one of Asia’s most advanced forging facilities, capable of producing single forged pieces weighing 1,000–3,000 kg—the first such facility in Asia and the second-largest globally. The expansion will also help HFL cater to specialized needs in aerospace, defense, and nuclear sectors.
Garg emphasized that despite receiving proposals from other states, HFL chose Punjab due to its business-friendly policies and the state government’s proactive industrial approach. He further assured that the investment would boost ancillary industries, steel consumption, and local supply chains, thereby strengthening Punjab’s economy.
During the announcement, senior officials including Amit Dhaka, IAS, CEO of Invest Punjab; Seema Bansal, Vice Chairperson, Punjab Development Council; Vaibhav Maheshwari, Member, Punjab Development Council; and Megha Garg, Director of HFL were present.
This investment marks a major step forward in tackling unemployment in Punjab while reinforcing the state’s position as a hub for advanced engineering and industrial manufacturing.
