Trident Group to Invest Rs 3,000 Cr in Madhya Pradesh

New Delhi, Dec 9 (PTI) Textiles major Trident Group plans to invest Rs 3,000 crore in Madhya Pradesh to expand its operations in the state resulting in 3,000 new jobs, its Chairman Rajinder Gupta said on Monday.

The Ludhiana-based vertically integrated textiles firm currently has operations involving sourcing cotton to produce finished goods in the state, it said in a regulatory filing.

"We ventured into Madhya Pradesh a few years ago and invested Rs 5,000 crore. Today, our finished products from Madhya Pradesh are exported to 122 countries, with demand continually rising," Gupta said while speaking at the Madhya Pradesh Regional Industry Conclave.

Looking ahead, Gupta said the group "plans to invest an additional Rs 3,000 crore in the state's textile sector which will expand employment opportunities here at Trident Group from the current 12,000 to over 15,000".

He further said, "We are committed to ensuring that the benefits of our operations stay within Madhya Pradesh, from sourcing cotton to producing finished goods. The state is an ideal confluence of sustainability, inclusive growth and green energy, with immense potential for solar and wind energy development."

Gupta also said the group is focused on skill development and women empowerment, with 50 per cent of new employment opportunities reserved for women.