Prime Minister Narendra Modi’s efforts to engage the Indian diaspora in investing back in India are yielding results, as evidenced by an increase in foreign direct investment (FDI). A notable development highlighting the strengthening of Indian-African business relations comes from Shrai Madhvani, the promoter of the Madhvani Group, who has revealed significant investment plans for India. Appreciating Modi’s strategic policies like Ease of Doing Business and Make in India, Madhvani emphasized that these initiatives were crucial in the Group’s decision to invest.
Reflecting on Modi’s 2018 visit to Kampala, Uganda, Madhvani recalled how the Prime Minister encouraged the Group to take part in India’s economic expansion. The Madhvani family has deep ties to India, particularly with their roots in Gujarat, which fosters both an emotional and cultural connection. During his international trips, Modi consistently interacts with the Indian diaspora, urging them to contribute to the growth of their homeland.
Madhvani and his family met with Modi recently, during which they shared plans for investments potentially reaching Rs 10,000 crore over the next five years, aimed at creating substantial job opportunities and bolstering industrial growth. The discussion also included the Madhvani Group’s strategic entry into India through a proposed acquisition of Hindustan National Glass & Industries Ltd. (HNGIL), the country’s largest container glass manufacturer, currently undergoing insolvency proceedings that began in October 2021.
This acquisition is set to be carried out by INSCO, a Madhvani Group subsidiary, which recently received a favorable Supreme Court ruling, paving the way for the takeover of HNGIL. Madhvani remarked that this moment not only signifies significant economic collaboration but also celebrates the enduring cultural and spiritual bonds between India and the Madhvani Group.
As a gesture of gratitude and respect, Madhvani presented Prime Minister Modi with a book written by his elder brother, Kamlesh Madhvani, and father, Manu Bhai Madhvani, both of whom have been integral to the Group’s international success.
Original Source: https://theshillongtimes.com/2025/06/17/pm-modis-outreach-to-diaspora-spurs-fdi-flow-into-india/
Category: NATIONAL,News Alert
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Publish Date: 2025-06-17 20:54:00
