The Welspun Group has invested Rs 2,000 crore and plans to invest another Rs 3,000–5,000 crore in Telangana.
The commissioning of an advanced textile facility in Chandanveli on Wednesday marked the conclusion of Welspun Group’s Rs 2,000 crore investment in Telangana. It also promised to invest an extra 3,000 to 5,000 crore rupees in the state over the following five years. On Wednesday, KT Rama Rao, minister of information technology and industries, officially opened the cutting-edge textile manufacturing facility. Rama Rao, according to Balkrishan Goenka, chairman of the Welspun Group, encouraged his organisation four years ago to move a facility that was currently under development from Kutch in Gujarat to Telangana. “With the help of the vision he had provided, we had to halt construction and relocate our factory. The KTR’s design is the plant that exists today. What has been accomplished at Chandanvelly during the past five years is difficult to fathom. This would develop into an industrial paradise during the ensuing years, benefiting not just Telangana but the entire nation, he said.
Rama Rao commended Goenka for abandoning his original plan to locate the facility in Gujarat and choosing Telangana instead. According to him, Goenka has vowed to invest between Rs 3,000 and Rs 5,000 crore in Chandanvelly over the next five to six years, even though only two units at a cost of Rs 2,000 crore are currently operational. He urged the business community to use their corporate social responsibility (CSR) initiative to collaborate with the neighbourhood and local authorities. The minister thanked the Due to the Welspun Group’s offer to train 1,200 students and establish an IT Shared Services Center in Chandanvelly, the youth of the area will have work
