Welspun Announces Rs 5,000 Cr Expansion to Lead Global Pipe Market

Welspun Group has declared a new capital of Rs 5,000 crore to increase its manufacturing and infrastructure presence in Gujarat, and the move reiterates the long-term relationship that the conglomerate has had with the state and its industrial developing narrative.

Speaking at the Vibrant Gujarat Regional Conference (VGRC), Welspun Group chairman B K Goenka has talked of how Kutch has been the group karmabhumi and janmabhumi and how the area has changed within the last 20 years.

Kutch and Saurashtra, once famed due to water shortage and frequent natural disasters, today boast of some of the largest refineries, ports and infrastructures and textile plants in the world and are currently on the path to being a major renewable energy center.

Also Read: Adani Group Commits Rs 1.5 Lakh Crore Investment in Kutch

Sharing a personal experience of Prime Minister Narendra Modi, who was in office at the first Vibrant Gujarat Summit in 2003, Goenka said Welspun had initially intended to expand textile in Vapi. Nevertheless, the group was convinced by Modi, who was the chief minister of Gujarat to channel his funds into the earthquake-devastated Kutch region, promising high returns in the long term.

The group has become the biggest home textile manufacturer in the world after the recent opening of a new Welspun plant by the Chief Minister, Bhupendra Patel and this has employed almost a lakh of people directly and indirectly.

Goenka said the new Rs 5,000 crore investment will further strengthen Welspun’s pipe manufacturing business, positioning it to become the world’s largest pipe manufacturer by the end of this year, calling it a moment of national pride.