A significant group of Indian-Americans has introduced the Viksit Amritsar Initiative, aimed at fostering social and economic progress in Amritsar, Punjab. With a pledged sum of $100 million, the initiative focuses on funding startups within the city, home to the revered Golden Temple of Sikhism, marking a pioneering effort for Indian cities by the diaspora, notes news agency PTI.
The brainchild behind this initiative is Taranjit Singh Sandhu, former Indian envoy to the US and current BJP candidate for the 2024 Lok Sabha election from Amritsar. Spearheaded by Sanjiv Lakhanpal, the initiative involves collaboration among notable Indian-Americans, the Federation of Indian Chamber of Commerce and Industries (FICCI), and the US-India Strategic Partnership Forum (USISPF).
Viksit Amritsar Initiative aims to offer mentorship and financial support to entrepreneurs, particularly focusing on ventures that uphold social and environmental responsibility. Target sectors include agriculture, healthcare, skill development, IT, and tourism, presenting ample opportunities for growth.
Taranjit Singh Sandhu, having served in diplomatic roles, including a tenure in Washington DC, has returned to Amritsar with a vision to elevate the city into a prominent economic and tourist destination. His candidacy under BJP from Amritsar underscores his commitment to this transformation.
Mukesh Aghi, president of USISPF, traveled from the US to Amritsar to engage in the initiative, emphasizing the collective investment of approximately $100 million into Amritsar startups. The aim is to stimulate job creation, technological advancement, and overall ecosystem development within the city.
With already over 250 applications received from diverse entrepreneurs, the initiative remains open for more applications, particularly prioritizing ventures led by women and youth. Sanjiv Lakhanpal emphasizes the initiative as a form of giving back to the community, expressing confidence in Ambassador Taranjit’s leadership to effectively utilize the resources and efforts directed towards Amritsar’s development.
