In a major step towards bolstering India’s manufacturing sector, Next Generation Manufacturers Pvt Ltd—a step-down subsidiary of PG Electroplast—has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to invest Rs 10 billion in a greenfield facility at Kamargaon, Ahilyanagar.

The MoU signing ceremony took place at the Sahyadri State Guest House in Malabar Hill, Mumbai, in the presence of Maharashtra’s Hon’ble Chief Minister Shri Devendra Fadnavis, Minister of Industries Shri Uday Samant, Chief Secretary Shri Rajesh Kumar, Secretary of the Industries, Energy and Labour Department Dr. P. Anbalagan, Chief Advisor (Investments & Strategy) to the Chief Minister Shri Kaustubh Dhavse, MIDC CEO Shri P. Velrasu, and Development Commissioner (Industries) Shri Deependra Singh Kushwah.

As part of Maharashtra’s flagship Magnetic Maharashtra industrial initiative, the project aims to set up advanced, integrated manufacturing facilities for air conditioners, refrigerators, washing machines, and allied products. The Rs 10 billion investment is expected to generate over 5,000 direct and indirect employment opportunities, significantly strengthening the consumer electronics manufacturing ecosystem in western India.

Chief Minister Devendra Fadnavis hailed the MoU as a milestone for the state’s industrial progress, stating, “Signing these MoUs is only the beginning. The government will act as a partner at every stage to ensure smooth implementation and a seamless, investor-friendly environment without any hurdles. With initiatives such as the Maitri Portal and our new energy policy reducing power tariffs, Maharashtra is fully committed to accelerating industrial growth.”

Mr Vishal Gupta, Managing Director – Finance at PG Electroplast, remarked, “We are delighted to partner with the Government of Maharashtra for this transformative project. This investment underscores the PG Group’s commitment to building world-class consumer electronics manufacturing capacities in India. The new facility at Kamargaon will be highly vertically integrated, strengthen the local components ecosystem, and create large-scale employment. We thank the state government for its proactive support and look forward to contributing meaningfully to Maharashtra’s industrial journey.”