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Welspun Group targets $5 bn revenue by 2020
26
Oct '15
Balkrishan Goenka-led conglomerate Welspun Group has ambitious plans to plans to raise its revenue to $5 billion by 2020 from the current figure of $3 billion, with its flagship textile business which is the country's largest and the world's third-largest home textiles manufacturer, expected to contribute half of its income.

Mumbai-headquartered Welspun Group has interests in home textiles, oil and gas, pipes and green energy.

According to an agency report, the group posted a revenue of $3 billion in the year ending March 2015, one-third of which came from the home textile business driven by Welspun India. The long line-pipe business under Welspun Corp contributed $1.5 billion.

Goenka said Welspun Corp, that runs the group's long line-pipe business is expected to contribute $2 billion, up from the present $1.5 billion, to the total revenue, and the rest $500 million to come from its other businesses, including infrastructure and energy.

Welspun India is the single largest organised supplier of home textiles in the $17 billion US market, with over 8 per cent market share. (SH)

Fibre2Fashion News Desk – India

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