The revival and operationalization of Hindustan National Glass & Industries Limited’s (HNGIL) Nashik plant, expected to emerge as a major engine for manufacturing growth and job creation in Maharashtra, took centre stage on Thursday during a high-level meeting between the Madhvani Group leadership and  Acharya Devvrat , Governor of Maharashtra and Gujarat.

The delegation was led by Shrai Madhvani, Chairman, HNGIL and included  Nitin Gadhia, director, HNGIL; Kumar Krishnan, managing director, HNGIL; and  Suraj Mehta, chief strategy officer , HNGIL.

During the meeting, the HNGIL leadership highlighted that the Nashik facility, once fully operational, will significantly strengthen Maharashtra’s manufacturing ecosystem, catalyze allied industries, and create substantial direct and indirect employment. The plant is envisaged as a cornerstone of HNGIL’s growth strategy and a strong contributor to the state’s industrial output.

The delegation also reaffirmed the Group’s long-term commitment to continued investments in Maharashtra, aligned with India’s broader manufacturing and economic development goals.

The meeting was held in the backdrop of the successful acquisition of HNGIL by Independent Sugar Corporation Limited (INSCO), a Madhvani Group company, through the Insolvency and Bankruptcy Code (IBC) process. Approved by the National Company Law Tribunal, the resolution marked one of India’s most significant IBC-led industrial revivals, restoring a legacy Indian manufacturer to a growth path.