Additionally, 2000 semi-skilled rural women will get employment through this investment, he added.
Trident Group is going to invest Rs. 2000/- Crore in Punjab, boosting the state's industrial ecosystem, said Cabinet Minister Sanjeev Arora, as per an official release.
It said that the market cap of Trident Group is 18,000 crore and turnover is 10,000 crore.
The minister stated that Rs. 1500/- crore will be invested in Barnala to expand Terry Towel production and modernisation in paper manufacturing, and Rs. 500/- crore in Mohali for setting up a corporate office and capacity building centre.
Additionally, 2000 semi-skilled rural women will get employment through this investment, he added.
The minister credited the state government’s “progressive policy interventions” and “ease of doing business reforms” for Punjab being chosen by investors.
Chairman Trident Group and Member of Parliament Rajya Sabha, Padma Shri Rajinder Gupta, said that they are going to expand Yarn Business and augment their existing textile capabilities to cater to increasing domestic and export demand.
He added that modernisation of paper manufacturing is being done by upgrading technology and infrastructure to ensure eco-friendly and efficient production processes.
“We are also scaling up production to reinforce our position as a leading exporter and manufacturer in Terry Towels and setting up a dedicated Capacity Building centre to enhance skill development and technical proficiency among local youth and workforce. Establishing a state-of-the-art corporate office in Mohali to facilitate business operations and attract talent,” the chairman said, according to the release.
Trident Group operates manufacturing units in Sanghera and Dhaula in Barnala district, Punjab, and in Budhni in Sehore district, Madhya Pradesh. The company directly employs around 10,000 families and supports nearly 30,000 more through indirect livelihood opportunities, the release said.
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