Over The Next Five Years, Welspun Group Will Put Between Rs 3,000 And 5,000 Crore Into Telangana.

Welspun Group, based in Mumbai, is one of India's fastest-growing multinational conglomerates. It has said that its subsidiary companies will invest between Rs.3,000 crore and Rs.5,000 crore in Telangana over the next five years. The Minister of IT and Industries, KT Rama Rao, was happy to hear the news on Wednesday.

The investment would be on top of the Rs.2 billion that the Minister spent on Wednesday to open the Welspun Group's advanced textile facility at Chandanvelly in the Rangareddy district. This facility, which cost Rs.500 crore to build, is Welspun's second investment in the same area. It spent Rs.1,500 crore two years ago to build a flooring facility. Welspun was one of the first companies to put money into Chandanvelly, which is quickly becoming a centre for industry.

After opening the advanced textile facility, Minister Rama Rao told the company it would have his full support if it wanted to grow in Telangana. He talked more about what the State government was doing to attract investments. He asked the local administration and elected representatives to help companies set up units in their area so that young people in their villages and towns could get jobs.

He said that any problems caused by industrial growth should be solved in a friendly way that doesn't hurt people's chances of getting jobs. He also asked the Welspun Group to use its Corporate Social Responsibility (CSR) activities to help solve local problems.

"With the arrival of Welspun Group and other industrial giants, the Chandanvelley and Sitharampur area will soon be the largest industrial hub in Telangana," he said.

Rama Rao promised to make the road from Shamshabad airport to Chandanvelly into a four-lane road after Welspun Group chairman BK Goenka asked him to. He also said that the government would work with farmers to devise a plan for packaging and branding the best cotton in the country, which is grown in the State. He also told the people in charge of the district and those elected to set up a skill development centre in Chandanvelly. This centre would train young people and women to work in the industries being set up in the area. Goenka praised how the State government ran and made decisions, which he said had also inspired other people. He said that Telangana's Mission Bhagiratha had inspired the whole country to ensure every home had clean water. He said the Welspun Group would grow in Telangana and was also considering starting a subsidiary unit for IT and IT-enabled services.

Education Minister P. Sabitha Indra Reddy, CEO and joint managing director of Welspun India Dipali Goenka, and Chevella MP G. Ranjith Reddy were among the people there.