Welspun India sets up US arm to invest in e-commerce firms

India based global textile firm Welspun India has integrated a wholly-owned subsidiary in the US to invest in e-commerce companies.

“The company has incorporated a wholly-owned subsidiary Welspun Nexgen Inc registered with the state of Delaware, US having paid up capital of USD 4.25 million to make investment in e-commerce companies,” Welspun India said in a BSE filing.

The company is registered with state of Delaware, USA. Further details about the development are yet to be announced.