Welspun India (WIL), has entered into a co-operation agreement with Cotton Egypt Association (CEA) to promote and market Egyptian cotton products worldwide.

Under the agreement, the two organisations will work together to create programmes for promotion of Egyptian Cotton logo in the retail markets across the globe. 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 a sum of USD 3 million in a stage wise manner over next few years to support the joint initiatives.

The Cotton Egypt Association, post verifying Welspun's quality and supply chain reliability processes, has granted the company the right to use the Egyptian Cotton logo for five years until 2022. Notably, Welspun had undertaken stringent audit and traceability programme to ensure the best product quality that is certifiable, verifiable and auditable.

Dipali Goenka, CEO and Jt. Managing Director of Welspun India, said, ''The sheer nature of Egyptian Cotton makes it a luxury to be cherished by all. Welspun wants the world to know about Egyptian cotton and we want to help promote it among the consumers and the makers alike. Welspun will help create marketing programmes and execute them using its extensive global network.

Welspun India is also exploring options for expansion of its Egypt operations to include a manufacturing facility for Egyptian Cotton home textile products. “We foresee an increase in demand for Egyptian Cotton and find an ideal condition for making Egypt one of our hubs for sourcing and manufacturing Egyptian Cotton products. We’re looking at the best option to utilize this opportunity,'' added Goenka.

Shares of the company gained Rs 6.25, or 7.12%, to trade at Rs 94.00. The total volume of shares traded was 1,312,343 at the BSE (2.48 p.m., Thursday).