According to the Group, the investment plan aligns with the government’s pro-business policies, including initiatives like ‘Ease of Doing Business’ and ‘Make in India.’
The visit comes as the Group makes its formal entry into the Indian market through the acquisition of Hindustan National Glass & Industries Ltd. (HNGIL), India’s largest container glass manufacturer currently undergoing insolvency proceedings
The Uganda-based Madhvani Group, a diversified business conglomerate with Indian roots, has announced plans to invest up to Rs 10,000 crore in India over the next five years. The group’s leadership, including promoter Shrai Madhvani, his wife Aparna Madhvani, and group director Nitin Gadhia, met Prime Minister Narendra Modi in New Delhi on June 14 to discuss the investment roadmap.
The visit comes as the Group makes its formal entry into the Indian market through the acquisition of Hindustan National Glass & Industries Ltd. (HNGIL), India’s largest container glass manufacturer currently undergoing insolvency proceedings. The acquisition is being made via INSCO, a Madhvani Group company. The group informed the Prime Minister that a recent Supreme Court judgment had cleared the legal path for INSCO to take control of HNGIL.
The meeting, held at the Prime Minister’s official residence, also included a brief condolence over the June 12 plane crash in Ahmedabad. Madhvani referred to Modi’s 2018 visit to Kampala, Uganda, where the Prime Minister had encouraged the Group to participate in India’s economic growth. The family, which traces its roots back to Gujarat, underlined its emotional and cultural ties to India.
According to the Group, the investment plan aligns with the government’s pro-business policies, including initiatives like ‘Ease of Doing Business’ and ‘Make in India.’ The Rs 10,000 crore commitment is expected to generate employment and support industrial growth across sectors.
The meeting also included a symbolic gesture, with Mr. Madhvani presenting a book authored by his late father and elder brother to Prime Minister Modi—both regarded as instrumental in building the Group’s global business.
This marks a key milestone in the Group’s re-entry into the Indian market and sets the tone for deeper Indo-African business cooperation in the manufacturing and industrial space.
