Chandigarh, November 20
Aiming to build a robust, responsive and forward-looking industrial ecosystem and making the Punjab industrial hub under the visionary leadership of National Convenor of AAP Arvind Kejriwal and Chief Minister Punjab Bhagwant Mann, Cabinet Minister Sanjeev Arora informed that Trident Group whose market cap 18,000 crore and turnover 10,0000 crore is going to invest Rs. 2000 crore in Punjab. In this regard, he revealed 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. Mainly, 2000 semi skilled rural women will get employment through this investment.
Addressing the press conference, Arora added that Punjab Government progressive policy interventions and ease of doing business reforms are making the state choicest place for investors. This reflects Punjab Government commitment towards industrial friendly policies which are gaining momentum day by day.
Chairman Trident Group and Member of Parliament Rajya Sabha Padma Shri Rajinder Gupta said that we are going to expand Yarn Business and augment our existing textile capabilities to cater to increasing domestic and export demand. Furthermore, 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”, he said.
Pertinently, Trident Group manufacturing locations are Sanghera and Dhaula in district Barnala, Punjab and Budhni district Sehore in Madhya Pradesh. Notably, 10,000 families are directly working in this group and supporting 30,000 families through indirect way.
