Welspun India shines on strategic alliance with CEA

Welspun India Ltd (WIL) has entered into strategic agreement with Cotton Egypt Association to promote and market Egyptian cotton products worldwide. The company will work together to create programmes for promotion of Egyptian cotton logo in the retail markets across the globe for five years until 2022. The agreement will also help enhance the complete supply chain of the Egyptian cotton starting from cultivation to the final product, which will also benefit the Egyptian farmer and the industry as a whole.

WIL will invest about Rs 20.07 crore in a stage-wise manner over the next few years to support the joint initiatives. The company had undertaken stringent audit and traceability programme to ensure the best product quality that is certifiable, verifiable and auditable.

WIL’s management foresees an increase in demand for Egyptian cotton and finds an ideal condition for making Egypt one of company's hubs for sourcing and manufacturing Egyptian cotton products. The company is also looking at the best option to utilise this opportunity.

The share price of WIL increased 7.86 per cent on the bourses and is trading at Rs 94.45 on an intra-day basis.