PG Electroplast to Invest Rs 10 Billion in Maharashtra Plant

01 Sep 2025 CW Team

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.”

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.”

Resources

11 May 2026

JSW One Elevates Mayank Gupta as CFO

JSW One Platforms has elevated Mayank Gupta as Chief Financial Officer as the company strengthens its leadership team to support its next phase of growth and institutional expansion.Gupta, who earlier served as Chief Operating Officer, has played a key role in scaling the company’s integrated commerce, supply chain and finance ecosystem. In his new role, he will oversee strategic finance, treasury, governance, capital allocation and financial planning.Gaurav Sachdeva, Joint Managing Director and CEO, JSW One Platforms, said Gupta’s operational understanding and financial expertise make him..

Infrastructure Urban

11 May 2026

India and EU Launch 15.2 Million Euro EV Battery Recycling Initiative

India and the European Union launched a third coordinated call for proposals on the recycling of electric vehicle batteries under the India-EU Trade and Technology Council Working Group two on five May 2026, with submissions due on 15 September 2026. The initiative is aimed at securing critical raw materials and accelerating the transition to a circular economy while deepening bilateral relations. The announcement was made by officials from the Office of the Principal Scientific Adviser and the European Commission. The call has a combined funding pool of 15.2 million euros (15.2 mn euros) and ..

Infrastructure Urban

11 May 2026

Aptus Value Posts Strong FY26 Results And Asset Quality

Aptus Value Housing Finance India Limited on six May 2026 reported results for the quarter and year ended 31 March 2026. Assets under management (AUM) stood at Rs 131.07 bn, up 21 per cent year on year. The company said improved field execution and sustained demand supported the growth. Disbursements in the fourth quarter were Rs 12.42 bn, up 17 per cent year on year, and full year disbursements were Rs 40.09 bn, up 11 per cent. Total income for FY26 was Rs 22.46 bn, up 25 per cent, and net profit for the year was Rs 9.43 bn, a rise of 26 per cent. Quarterly net profit was Rs 2.61 bn. For the ..