PG Electroplast's ₹1,000 Crore Boost to "Magnetic Maharashtra"

Next Generation Manufacturers, a step-down subsidiary of PG Electroplast, has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to establish a large-scale consumer electronics manufacturing facility in Kamargaon, Ahilyanagar.

The ₹1,000 crore greenfield investment was formalized at a signing ceremony held at the Sahyadri State Guest House in Mumbai, in the presence of Chief Minister Devendra Fadnavis, Minister of Industries Uday Samant, Chief Secretary Rajesh Kumar, and other senior state officials. This strategic project falls under the state's flagship "Magnetic Maharashtra" initiative.

The upcoming state-of-the-art facility will be equipped to manufacture a wide range of consumer electronics, including air conditioners, washing machines, refrigerators, and allied products, with fully integrated capabilities. It marks a significant step in enhancing India’s electronics manufacturing ecosystem.

In addition to industrial development, the project is expected to generate over 5,000 direct and indirect employment opportunities, driving regional economic growth and reinforcing Maharashtra’s role as a key hub for electronics production.

Speaking at the event, Chief Minister Devendra Fadnavis called the MoU a milestone in Maharashtra’s growth trajectory, stating:
"These MoUs mark just the beginning. The government will act as a partner at every stage to ensure smooth execution and an investor-friendly environment. With initiatives like the MAITRI portal and a new energy policy that lowers power tariffs, Maharashtra is committed to accelerating industrial growth and attracting high-impact investments."

News by Rahul Yelligetti.