Trident Group to invest Rs 3,000 crore in Madhya Pradesh textile sector (#1684953)

Trident Group will be investing Rs 3,000 crore ($353.6 million) to boost the textile sector in the state of Madhya Pradesh.

The company made the announcement after a meeting with the Madhya Pradesh chief minister Dr Mohan Yadav during the ‘Invest Madhya Pradesh’ regional industry conclave.

With this additional investment, Trident is expected to create over 3,000 employment opportunities in the state.

Commenting on the investment, Rajinder Gupta, chairman of Trident Group in a statement said, “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.”

“Looking ahead, Trident Group’s plans to invest an additional Rs. 3,000 crores in the state’s textile sector which will expand employment opportunities here at Trident Group from current 12,000 to over 15,000,” he added.

Trident Group has a strong presence in the yarn, bath & bed linen segment. It operates manufacturing facilities in Barnala and Dhaula (Punjab) and Budhni (Madhya Pradesh).