Trident Group Chairman Rajinder Gupta, in a statement to CNN-News 18, said that he plans to invest Rs 1,000 crore in Jammu and Kashmir to help develop the state.
Gupta also said that he has a blueprint in place, and has identified sectors and small scale industries that he would invest in. He also said that women empowerment was the priority with this initiative, and that 10,000 families are expected to benefit from the investment.
Provisions of Article 370 of the Constitution, which granted special status to Jammu and Kashmir were scrapped on August 5.
As per this Article, except for defence, foreign affairs, finance and communications, Parliament needs the state government’s concurrence for applying all other laws.
Union Minister Amit Shah stated in Parliament that one of the major reasons to scrap this Article was to invite foreign investment and promoting tourism in the state.