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Related Keywords: 000 crore, 450 crore, Gujarat based Nandan Denim of Chiripal group, investment will create jobs, Korean company, newly inaugurated Kakatiya textile park, proposed to invest about Rs 1, proposed to invest about Rs1, textile players, Warangal, Welspun Group, Youngone Corporation

At the newly inaugurated Kakatiya textile park in Warangal, among others textile players, Welspun group and Gujarat based Nandan Denim of Chiripal group have proposed to invest about Rs1,450 crore. Welspun and Nandan Denim will be investing Rs 750 crore and Rs 700 crore, respectively.

While the Korean company Youngone Corporation has proposed to invest about Rs 1,000 crore,

Related Keywords: carving out yarn spinning business, create a separate roadmap, largest manufacturers and exporters, Mandawewala, next generation, nylon filament yarn, plan smooth succession of business, Polyester Texturised Filament Yarn, process of purchasing partner and chairman stake, the group managing director, Welspun Group, Welspun Syntex

Welspun Syntex Limited , the yarn spinning business established in 1983, flagship company under the Welspun umbrella, the $3-billion textile-to-steel pipes conglomerate will be now managed by cofounder Rajesh Mandawewala’s elder son Abhishek. The decision by Welspun Group to carve out the yarn spinning business is a step to ensure separation of ownership and management, while simultaneously planning a smooth succession of the business to the next generation.

Related Keywords: beddings, focus on e-commerce portal, home textile business includes terry and bath towels, India's largest home textiles manufacturer, innovative, patented products like Hy Grow cotton, set target to double its revenue, single largest player in American home textile space, Welspun Group

Welspun Group, India's largest home textiles manufacturer headquartered in Mumbai and also the single largest player in the $17 billion American home textiles space with a 5 percent market share, nets one-third or $ 1 billion of its group revenue of $ 3 billion from the textiles business now, has set target to double its revenue to $ 2.5 billion by 2020.

The company expects the higher growth will again be driven by the US market as it plans to increase its focus in the world's largest textiles market further. The US contributes around 65 percent of the total sales now.

Related Keywords: home textile manufacturer, looms, lower dependence, outside suppliers, producing bed-sheets, spindles, towels, Welspun Group, Welspun India

Welspun India, a part of the USD 3 billion Welspun Group, one of the top three home textile manufacturers in the world and the largest home textile company in Asia. With the 170,000 spindles and 140 looms part of the plan producing bed-sheets, towels and other made-ups have started commercial operations effective September, 2014.

The company's expansion project is half-way through with capex of Rs 1,200 crore completed by the end of the quarter. The remaining capex of around Rs 1,300 crore is expected to be completed over the next two years.