Sandhu gets Indian Americans to commit Rs 800 crore for Amritsar — and fuel his poll run

Soon after his return to India after retirement, Sandhu became the Bharatiya Janata Party’s (BJP) Lok Sabha candidate from Amritsar. He also held a conclave of eminent Indian diaspora members in the city which eminent Indian-Americans from the US attended. USISPF president Mukesh Aghi specially flew to Amritsar from the US for the day-long brainstorming session which was co-hosted along with FICCI. Weeks later, the group gathered in a Maryland suburb of Washington and formally announced the formation of the Viksit Amritsar Initiative headed by eminent Indian American Sanjiv Lakhanpal from Amritsar.

The move has given an impetus to the poll campaign of Sandhu. “During the US-India Education and Trade Summit 2024, organized in Amritsar on April 2, decisions were made to form ‘Viksit Amritsar Initiative’ aiming to provide employment to young entrepreneurs and startups in Amritsar. Under this, VAI has raised more than Rs 800 crore,” said Sandhu during a press conference.

It aims to provide the entrepreneurs in Amritsar mentorship and access to up to USD 100 million to get their socially and environmentally responsible startups to succeed. “Investments will be made in sectors such as agriculture, industry and commerce, skill development, education, information technology, healthcare, tourism, hospitality, etc., to provide opportunities for industrial growth, especially for women and youth in Amritsar. All investments applications will be approved by the VAI High Investment Committee,” said Sandhu, who has been pitching the development agenda as part of his election campaign.

It is the first time that BJP has been contesting alone on this seat in three decades without alliance with Shiromani Akali Dal. Also, BJP hasn’t won this seat since 2009. In Washington, USISPF chief Aghi said, “We have over 250 applications. We are reviewing all of them. We have more coming through. We would like to see more startups create more jobs in Amritsar, create more technology and build a whole ecosystem”.

Entrepreneurs could be in the fields of farming and agriculture, industry and commerce, skill development, information technology, healthcare, tourism, and home building. “Essentially anything that allows an entrepreneur, especially women and youth to thrive in Amritsar,” a statement said. It added that all investments will be approved by VAI’s investment committee made up of investors and independent advisors.

“I have a commitment from a group of up to USD 100 million of investments in startups in Amritsar. We are excited about how the meeting went,” said Sanjiv Lakhanpal, founder and CEO of Viksit Amritsar Initiative. The meeting was virtually addressed by Sandhu during which he said the scope of connectivity and all-round development of Amritsar was huge.

“We are truly looking at this as our giving back; our taking care of a fraction of the debt that we allow to Amritsar and India. That’s what we are working with. We are excited that we have a partner like Ambassador Taranjit in Amritsar who we can trust as we put our resources and our efforts into Amritsar,” Lakhanpal said. “We thank Taranjit Singh Sandhu for giving us this idea and vision,” said Jasdip Singh Jessee, an eminent Indian-American Sikh leader from Maryland.

Viksit Amritsar Investments fund is to allow investments in socially responsible and fiscally viable projects that will help entrepreneurs from different fields to economically grow and develop Amritsar, the statement said. Back home in Amritsar, Sandhu said that while the American Consulate is being opened in the holy city, positive feedback has been received regarding the establishment of the VFS Global Center for multiple visa applications.

Sandhu also promised the establishment of SEZ in the border area of Amritsar, bringing AIIMS and Central University to district, making the city an IT hub, bringing special packages from the center, promoting trade with Atari border, air cargo, and enhancing air connectivity with the Gulf countries through Amritsar-Makhu railways link via Gujarat and Mumbai ports.