Hundred million dollars to support Amritsar startups pledged by Indian-Americans

May 4 :
Taranjit Singh Sandhu, a former Indian envoy to the United States, is among a group of notable Indian-Americans who have given $100 million to support entrepreneurs in Amritsar, Punjab. This is an unprecedented effort. In the upcoming 2024 Lok Sabha election in India, Sandhu will be running as the candidate for the BJP in the Amritsar constituency.

Viksit Amritsar is a project that the US-India Strategic Partnership Forum (USISPF) and the Federation of Indian Chambers of Commerce and Industries (FICCI) have worked together on.

After serving as a diplomat for eight years, the last four of which he spent in Washington DC, Sandhu went back to his birthplace of Amritsar. He now says he's determined to make the Indian city a major attraction and economic powerhouse.

Entrepreneurs with socially responsible companies are anticipated to receive money and guidance from Sanjiv Lakhanpal, CEO of the Viksit Amritsar programme.

We see this as a way to give back to the community. Ambassador Taranjit is a reliable ally in Amritsar, and we are thrilled to have him on board as we invest in this city, Lakhanpal remarked.

There may be gains in areas including healthcare, information technology, tourism, skill development, and agriculture.

We have invested almost $100 million to fund entrepreneurs in Amritsar. President Mukesh Aghi of the USISPF expressed his desire to see an increase in the number of startups in Amritsar in order to foster the development of new technologies, industries, and employment opportunities. The Golden Temple, the sacred site of the popular Punjabi faith Sikhism, is located in Amritsar and draws many visitors from all over the world every year.