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Saturday, Sep 21, 2019

Trident group announces to invest Rs 1,000 crore in J-K

Group chairman Rajinder Gupta on Wednesday night shared his plan to invest in J&K with a news channel and later shared the video clipping of the same on his social media accounts, including Facebook.

chandigarh Updated: Aug 09, 2019 02:56 IST
HT Correspondent
HT Correspondent
Chandigarh
The Ludhiana-based business giant Trident group has announced to invest ₹1,000 crore in Jammu and Kashmir, just two days after the Centre revoked the special status of the state by scrapping Article 370.ANI Photo)
The Ludhiana-based business giant Trident group has announced to invest ₹1,000 crore in Jammu and Kashmir, just two days after the Centre revoked the special status of the state by scrapping Article 370.ANI Photo)
         

The Ludhiana-based business giant Trident group has announced to invest ₹1,000 crore in Jammu and Kashmir, just two days after the Centre revoked the special status of the state by scrapping Article 370.

Group chairman Rajinder Gupta on Wednesday night shared his plan to invest in J&K with a news channel and later shared the video clipping of the same on his social media accounts, including Facebook.

Gupta could not be contacted because he is said on a tour to the United States, but one of the senior functionaries of the group confirmed company’s plans while talking to HT, on condition of anonymity.

He said a blueprint has already been prepared by the group chairman for the investment in the state.

“We have identified certain sectors, including small-scale industries and peripheral industries serving the hospitality sector. We plan to give direct and indirect employment to 10,000 families in Jammu and Kashmir,” said the Chandigarh-based functionary.

Gupta is also the vice-chairman of the Punjab Planning Board with a cabinet status and he is the first major businessman who has announced investment for the state after Article 370 was scrapped.

Notably, certain provisions of Articles 370 and 35A have prevented business houses from purchasing land and hiring skilled manpower in the state.

In the news clip shared by Trident chairman on his Facebook account, Gupta says he has special employment-generation plans for women of J&K.

“I want Jammu and Kashmir to flourish like other states of the country,” says Gupta.

Having manufacturing facilities in Barnala and Budhni (Madhya Pradesh), Trident Limited is a US $1-billion conglomerate with business interests in home textiles, paper, yarn, chemicals and captive power.

The company has customer base spread across more than 100 countries and most of the large retail stores in the US and Europe are part of its customer list.

First Published: Aug 09, 2019 01:12 IST