Punjab CM Bhagwant Singh Mann Condemns ED Raids On Traders, Says State Govt Stands Firmly With Business Community

Published 9 June 2026 · india

Punjab CM Bhagwant Singh Mann Condemns ED Raids On Traders, Says State Govt Stands Firmly With Business Community Published By, Last Updated: June 09, 2026

Punjab CM Bhagwant Singh Mann Condemns ED Raids On Traders, Says State Govt Stands Firmly With Business Community Published By, Last Updated: June 09, 2026, 19:14 IST Punjab CM Mann and Arvind Kejriwal condemn ED raids on Punjab traders, Manish Sisodia links ED actions to declining investment and India dropping from MSCI Emerging Markets top 10. Punjab Chief Minister Bhagwant Mann and AAP Chief Arvind Kejriwal | File photo Punjab Chief Minister Bhagwant Singh Mann on Tuesday strongly condemned fresh Enforcement Directorate raids on traders in the state, saying the business community had nothing to fear and that his government stands firmly behind them. Mann described Punjab’s traders as the backbone of the state’s economic growth and said any attempt to intimidate them through central agency action would not be tolerated. “Punjab’s Hindu traders are the backbone of our state’s economic development and have made a tremendous contribution towards building a Rangla Punjab. Through such actions, they are trying to exert political pressure and compel them to join their side, something that Punjabis will never tolerate.

We stand firmly with our traders," Mann said. Kejriwal Backs Mann, Appeals To Traders Not To Panic AAP national convenor Arvind Kejriwal echoed Mann’s position, posting on X to reassure the trading community directly. “The ED Party is harassing small Hindu traders in Punjab. My appeal to all traders is that there is no need to panic. The entire Punjab and the Punjab Government stand with you. Together, we will take on the ED Party," he wrote. Kejriwal also commented on ongoing speculation about a possible alliance between the Shiromani Akali Dal and the BJP ahead of future Punjab elections, saying the BJP appeared far more eager to close a deal than the SAD. The Shiromani Akali Dal could not be reached for comment at the time of publishing. Sisodia Raises MSCI Concern, Links Regulatory Climate To Investment Slowdown Senior AAP leader and Punjab Prabhari Manish Sisodia broadened the party’s argument to economic policy, saying the pattern of ED action was having consequences beyond individual traders.

He cited India’s exit from the top 10 of the MSCI Emerging Markets Index for the first time in 26 years as evidence of a wider investment confidence problem. The MSCI Emerging Markets Index is one of the world’s largest investment benchmarks, with hundreds of billions of dollars in global fund allocations tracked against it. “Traders have been ruined through ED raids and young people through examination scams. But the country needs an innovation economy, not an ED economy. The truth about the economy cannot be hidden for long through polished speeches and media management," Sisodia said. He argued that uncertainty around regulatory action was suppressing new enterprise. “Whenever a company begins to grow, first an ED raid is conducted, then donations are extracted for the party. The result is that investment is declining. Fewer new jobs are being created. Opportunities for well-paying jobs are shrinking," he said. News18 Newsletter Handpicked stories, in your inbox A newsletter with the best of our journalism submit About the Author News Desk The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad.