The Trident Group plans to invest Rs. 1,000 crore in Jammu and Kashmir to help develop the union territory, according to its chairman Rajinder Gupta. With a blueprint in place, Gupta said he has identified sectors and small scale industries that would attract investment. Empowerment of women is the priority and 10,000 families are expected to benefit.
The announcement came in an interview to a television channel just two days after the Indian Government revoked the special status of the state by amending Article 370 on August 5.
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 the decision regarding Article 370.
Certain provisions of Articles 370 and 35A prevented business houses from purchasing land and hiring skilled manpower in the state.