Welspun India Ltd ties-up with Cotton Egypt Association
Posted on:10 Feb 2017 18:07:02
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10 February 2017 Current Affairs: Welspun India Ltd (WIL) on 9 February 2017 entered into a co-operation agreement with Cotton Egypt Association (CEA) to promote and market Egyptian cotton products across the world.
Welspun will help the Cotton Egypt Association in creating marketing programmes and execute them using its extensive global network. The agreement will be aimed at boosting Welspun India's Egypt operations by setting up a manufacturing facility for Egyptian Cotton home textile products.
Highlights Under the agreement, Welspun India Ltd and Cotton Egypt Association will work together to create programmes for promotion of Egyptian Cotton logo in the retail markets across the globe.
Welspun India will invest around USD 3 million in a stage wise manner over next few years to support the joint initiatives of both the companies.
The Cotton Egypt Association also granted the right to use the Egyptian Cotton logo to Welspun India for five years until 2022.
Welspun will undertake stringent audit and traceability programme to ensure the best product quality that is certifiable, verifiable and auditable.
The agreement will also help in enhancing the complete supply chain of the Egyptian Cotton starting from cultivation to the final product.It will benefit the Egyptian farmer and the industry as a whole.
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