PM Modi's outreach to diaspora spurs FDI flow into India

IANS June 18, 2025 261 views

PM Modi's persistent engagement with the Indian diaspora has yielded results as the Uganda-based Madhvani Group commits to major investments in India. The conglomerate credited Modi's pro-business policies and 2018 outreach for their Rs 10,000 crore plan, including acquiring India's largest glass manufacturer. Their Supreme Court-approved HNGIL takeover marks a significant milestone in India-Africa business relations. The deal underscores how cultural ties and government initiatives are driving FDI into key sectors.

"PM Modi’s visionary policies played a vital role in our decision to invest in India" – Shrai Madhvani
New Delhi, June 17: Prime Minister Narendra Modi's outreach to the Indian diaspora to invest in their ancestral country has been bearing fruit with more FDI coming into India.

Key Points

1

Madhvani Group plans Rs 10,000 crore India investment over 5 years

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Acquisition of HNGIL marks strategic entry into Indian market

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Modi's 2018 Uganda visit strengthened diaspora business ties

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Supreme Court clears legal path for Madhvani's HNGIL takeover

In a significant development signalling renewed Indian-African business ties, Shrai Madhvani, promoter of the globally diversified Madhvani Group, has announced major investment plans for India.

Commending Prime Minister Modi’s visionary policies, such as Ease of Doing Business, Make in India, and the government’s pro-business outlook, Madhvani acknowledged that these initiatives played a vital role in the Group’s decision to invest in India.

Madhvani recalled Prime Minister Modi’s visit to Kampala (Uganda) in 2018, where the Prime Minister had encouraged the Madhvani Group to become a part of India’s growth story. With ancestral roots in Gujarat, the Madhvani family shares a deep emotional and cultural connection with India.

PM Modi, on his foreign visits, has been making it a point to interact with the Indian diaspora and encouraging them to invest in the country of their origin.

Madhvani, along with his family, met PM Modi over the weekend and informed him that the Group is exploring investments in India of up to Rs 10,000 crore over the next five years, which is expected to generate substantial employment and contribute to industrial growth.

During the meeting, Madhvani briefed the Prime Minister on the Group’s strategic entry into India through the acquisition of Hindustan National Glass & Industries Ltd. (HNGIL) — India’s largest container glass manufacturer, currently under insolvency proceedings since October 2021. The acquisition is being undertaken through INSCO, a Madhvani Group company.

The group also apprised the Prime Minister about the recent Supreme Court judgment, which cleared the legal path for INSCO to take over HNGIL, marking a major milestone for the Group’s entry into India.

The meeting with the Prime Minister marks not only a moment of strategic economic collaboration but also a celebration of enduring cultural and spiritual ties between India and the Madhvani Group, Madhvani said.

Madhvani also presented Prime Minister Modi with a book authored by his elder brother, Kamlesh Madhvani and father Manu Bhai Madhvani, both of whom have played foundational roles in the Group’s global success.

Reader Comments

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Rahul K.
This is fantastic news! Our PM's efforts to connect with the diaspora are really paying off. When NRIs invest back home, it's not just about money - it brings global expertise and strengthens our economy. More power to initiatives like Make in India! 🇮🇳
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Priya M.
While I appreciate the FDI inflow, I hope these investments actually create quality jobs for local youth. Sometimes big numbers sound impressive but we need to see ground-level impact. The glass industry acquisition could be good if they modernize operations.
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Amit S.
Gujarati entrepreneurs making global impact and now returning to invest in Bharat - this is what our civilizational strength looks like! The Madhvani story shows how cultural roots matter in business decisions. More such success stories please!
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Sunita R.
₹10,000 crore investment is no small amount! But I wonder - will this help small businesses too or just benefit large corporations? The government should ensure such FDI creates opportunities across the supply chain. Still, a positive development overall.
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Vikram J.
The emotional connection mentioned here is important. When diaspora investors feel culturally connected, they're more likely to make long-term commitments rather than just profit-driven moves. This could be a model for engaging with other NRI business families.
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Neha P.
Good to see insolvent companies getting new life through such investments. Hope the Madhvani Group brings international best practices to HNGIL. The glass manufacturing sector needs modernization to compete globally. Fingers crossed for more such turnarounds!

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Tags:
Modi Madhvani Group FDI Make in India Indian diaspora Hindustan National Glass Uganda