KTR announces Welspun group’s plan to invest INR 5,000 crore in various sectors

Hyderabad: Telangana has secured another significant investment as Welspun India Limited, a leading global player in home textiles, announced on Wednesday its plan to invest up to Rs 5,000 crore to establish industrial units across various sectors in the state. In addition, it will establish an IT/ITeS centre in Chandanvelly, adding to the Rs 2,000 crore already invested in establishing the group’s advanced textile facility in Ranga Reddy district.

In the presence of Industries and Textiles Minister K.T. Rama Rao, Balkrishan Goenka, Chairman of Welspun India Limited, announced the company’s investment of up to Rs 5,000 crore to establish industrial units across sectors in Telangana, along with the setting up of an IT/ITeS center in Chandanvelly. This was announced immediately after the inauguration of Welspun’s advanced textile facility in Chandanvelly, which is the company’s second investment in the area after the flooring facility established two years ago at a value of Rs 1,500 crore. The plant will manufacture spun-lace used in various products such as hygiene and family care items. Rao pledged full support to the company for the expansion of its operations in the state, and expressed his belief that with Welspun Group and other industrial giants investing in the area, Chandanvelley and Sitarampur region will soon become Telangana’s largest industrial hub.

Upon hearing Goenka’s request, Rao provided assurance for the expansion of the road from Shamshabad airport to Chandanvelly to a four-lane road. Additionally, he stated that the government will collaborate with farmers to create an action plan for the packaging and branding of top-grade cotton produced in the state.

Rao expressed that Welspun’s decision will aid in achieving the Telangana government’s objective of expanding IT to tier 2 and 3 cities. The establishment of Welspun IT center will not only fulfill the local’s desire to have IT companies in their region but also generate up to 1,200 IT job opportunities for local youth.