Welspun on Thursday announced intentions to invest over Rs 5,000 crore in Telangana over the course of five years in various categories, including a logistics park and an IT and ITES cluster. Welspun World chairman B.K. Goenka stated that this would result in around 50,000 jobs, including 20,000 directly and 30,000 indirectly.
He stated Welsun had established a good relationship with Telangana while breaking ground for the Sintex manufacturing facility at Chandanvelly, close to Hyderabad. Originally, it had intended to establish a Welspun facility in Gujarat, but Industries Minister K.T. Rama Rao persuaded him to move it to Telangana. Since that time, Welspun has made Telangana its preferred location, according to Goenka.
According to Goenka, the state’s infrastructure, availability of personnel, and business-friendly atmosphere were the primary draws for the organisation. Despite considering Karnataka, Sintex, a fully owned subsidiary of Welspun Corp., chose Telangana due to the conducive environment.
Goenka stated that the envisaged IT cluster will function as a form of backoffice or shared office for Welspun. Since there are numerous engineering colleges in the state and the property is close to an airport, the personnel needs may be satisfied. Although there are already 500 people employed, he claimed that number will rise. He predicted that the Welspun logistics park would be built in two to three years.
In order to establish a manufacturing facility with a 350 crore rupee investment, Sintex and the state government signed a memorandum of understanding. This will be Sintex’s primary manufacturing facility, producing products like adhesives, water tanks, and pipes. In the Telangana region, the unit would generate 1,000 new jobs. Goenka predicted that the unit would be finished in roughly nine months and invited Rama Rao to dedicate the space.
Rama Rao, who lay the cornerstone for the Sintex complex, responded to this request by saying, “We will hold elections in approximately two months. We’ll triumph, and I’ll return for the inauguration,” he assured.
Speaking to the crowd, Rama Rao noted that Welspun is a well-known brand worldwide and is sold in Walmarts and Targets in the US market. Being able to buy manufactured in Telangana, made in Chandanvelly products around the world gives me great pride, he said. About 26% of the total investments taking place in Telangana, according to him, are from repeat investors.
“K Chandrashekar Rao, the chief minister of Telangana, does not think that the state should have investor summits to draw in investments. Instead, he advises us to attend to the demands of the current investors’ businesses, as they will help in bringing in fresh investments.
The minister asked the residents to think at entrepreneurship potential rather than merely real estate because businesses in the industrial, manufacturing, IT, food processing, and other sectors are expanding rapidly in the Rangareddy district.
The second-largest infantwear producer in the world, Kitex Garments, laid the cornerstone for a fiber-to-apparel production facility in Seetharampur. The cluster, Kitex’s second investment in Telangana, will cost Rs 1,200 crore and have a daily production capacity of seven lakh garments.
More than 11,000 people will be directly employed by the cluster, which will take up 250 acres. The percentage of women in the workforce will be around 80%. By December 2024, the investment will be fully operational.
The Kakatiya Mega Textile Park in Warangal, where development is currently taking place on a comparable-sized integrated fiber-to-apparel manufacturing cluster, served as Kitex’s first investment project in Telangana.
Kitex is undertaking a major project. Its 1.2 kilometre assembly line will be present. The assembly line would be 3.6 km long when finished, according to Rama Rao.
