In a major boost to Gujarat's industrial landscape, Welspun Group Chairman B K Goenka has unveiled a substantial investment plan of Rs 5,000 crore. The announcement was made on Sunday during his address at the Vibrant Gujarat Regional Conference (VGRC) in Rajkot, reinforcing the conglomerate's deep-rooted commitment to the state's growth.
From Textile Roots to Global Ambitions
Addressing the gathering, Goenka highlighted the special bond between Welspun and Gujarat, particularly the Kutch region. He described Kutch as both the 'karmabhumi' (land of work) and 'janmabhumi' (birthplace) for the group. He painted a vivid picture of the region's dramatic transformation over the last twenty years, crediting the vision and leadership of Prime Minister Narendra Modi.
"Kutch was once synonymous with water scarcity and frequent natural disasters," Goenka recalled. "Today, it stands tall alongside Saurashtra, hosting some of the planet's largest refineries, ports, infrastructure projects, and textile units. These regions are now poised to become major hubs for renewable energy."
A Pivotal Meeting That Shaped Kutch's Destiny
Goenka shared a pivotal moment from the group's history, recounting his meeting with PM Modi during the inaugural Vibrant Gujarat Summit in 2003. At that time, Welspun had initially planned a textile expansion in Vapi. However, Modi, who was then the Chief Minister of Gujarat, persuaded the group to instead invest in the earthquake-ravaged Kutch district, assuring them of strong returns on their investment.
That faith has paid off handsomely. Following the recent inauguration of a Welspun plant by Chief Minister Bhupendra Patel, the group has cemented its position as the world's largest home textile manufacturer. The company now provides direct and indirect employment to nearly one lakh people and commands an impressive over 25% market share in the home textile markets of the US and UK. Products manufactured in Gujarat even grace prestigious global events like Wimbledon.
Rs 5,000 Crore Push for Global Leadership in Pipes
The newly announced Rs 5,000 crore investment is strategically aimed at bolstering Welspun's pipe manufacturing business. Goenka declared that this infusion will position the company to become the world's largest pipe manufacturer by the end of this year, a milestone he termed a moment of national pride.
This massive commitment underscores Welspun's long-term strategy to expand its manufacturing and infrastructure footprint within Gujarat. The investment is expected to further catalyze industrial development in the state, create more employment opportunities, and solidify India's position on the global manufacturing map.
