After pumping Rs 2,000 crore , Welspun has another Rs 3,000-5,000 crore plan for Telangana

HYDERABAD: After having wrapped up investments worth Rs 2,000 crore in flooring solutions and advanced textiles manufacturing in Chandanvelly on the city outskirts, the $2.3 billion Welspun Group is now drawing up plans to pump in another Rs 3,000-5,000 crore in the state by 2028.
"We have big plans to get into different activities...into hardware and water storage tanks, plastic tanks and supply of plastic parts for automotive sector in the near future. I want to promise you that for our next phase of growth over the next 3-5 years about Rs 3,000-5,000 crore investment will come to Chandanvelly," Welspun Group chairman Balkrishan Goenka said on Wednesday at the inauguration of its technical textiles plant here.
These include plans to set up the group's third IT/ITeS centre after Ahmedabad and Mumbai at Chandanvelly. "We are looking at a big IT/ITeS centre in Chandanvelly that will generate employment for local youth and can also emerge an IT hub. In next five years, Chandanvelly will become Welspun Valley," Goenka said.
He said currently the company was discussing its expansion plans with the Telangana government and would come up with a detailed plan on investments and employment potential in next few months.
Goenka credited Telangana's industry-friendly and proactive government for Welspun Group's decision to shift their floorings unit from Anjar in Gujarat to Chandanvelly.
"In 2018 we had started work on this plant at Kutch but then KTR persuaded us to stop work there and shift here. Today Chandanvelly is moving towards becoming an industrial paradise. With other companies such as Kitex, Amazon, Microsoft and many others coming here, this plant is literally a brand ambassador for Telangana," he said.
Pointing out that the long staple cotton grown in the state was of good quality and in high demand he urged the state government to ensure clean raw material is made available to industry. He pointed out that Swedish retailer Ikea was Welspun home textiles' biggest buyer and had booked its entire production for the next two years.
Inaugurating the new Welspun unit, industries & IT minister KT Rama Rao thanked the group for its investments and said the proposed Welspun IT Centre in Chandanvelly would generate about 1,000-1,200 jobs.
Pointing out that Goenka and Welspun had emerged as one of the biggest brand ambassadors for Telangana, KTR said: "We welcome your investment and partnership. We don't look at you as just an investor because you have become our biggest brand ambassador in India. Even Union ministers also tell me that when I meet them."
KTR said the state government would work with farmers for packaging and branding of the long staple cotton grown in the state.