India-based home textiles manufacturer Welspun India Ltd. has inked three MoUs with the Indian Government at the ongoing Vibrant Gujarat Summit 2017 in Gujarat, India.
The Group informed that it would invest Rs. 4,000 crore in three large textile projects in Gujarat. It will invest Rs. 2,000 crore in setting up an integrated textile manufacturing zone and another Rs. 1,000 crore on capacity enhancement of its technical textile business. A similar amount has been earmarked for its advanced textile arm that makes specialized materials for aerospace, defence and automobiles.
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B K Goenka, Chairman, Welspun Group said, “Our continuous investment in the state is a testament to our long-term commitment to Gujarat. It is our aim to make Gujarat the textile hub of the world. Welspun continues to invest into development of well-researched products and technology of the future and the current investment is in line with this philosophy.”
