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May 16, 2021
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Indian Textile Company Welspun Announces Plans to Invest in Ethiopia

Welspun India is interested in engaging in the Ethiopian textile industry, according to the chairman of the company.

Prime Minister Hailemariam Dessalegn has held discussion with B. K. Goenka, Chairman of the company, on the sidelines of the Davos World Economic Forum.
The chairman said on the occasion he has realized that there is favorable investment environment for the textile industry in Ethiopia.

The attention the country has in particular paid to the industry by establishing industrial zones has made him consider investment in Ethiopia.

According to Goenka, the company has a desire to take shades in the industrial parks and engage in textile production.

Welspun, the well-known company for its towels and bed linens, has 2 huge factories in Gujarat, India, it was learned.

The company was among the leading 15 companies that supplied textile products to Europe and the US in 2013.

Source: http://www.ena.gov.et

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