The Maharashtra Government has signed a Memorandum of Understanding (MoU) with OFAB Tech Private Limited, opening the door for a Rs. 750 crore investment in the textile industry, in a step that will completely transform Wardha’s economic landscape.

The deal was signed at deputy chief minister Devendra Fadnavis’s official residence in Mumbai. It is expected to generate about 15,000 new jobs in the Wardha district’s Karanja (Ghadge) MIDC area, which is well-known for Vinoba Bhave’s ashrams and Mahatma Gandhi’s Sevagram.

An important turning point has been reached in the state’s attempts to encourage industrial growth in historically impoverished areas with this development.

OFAB Tech, a B2B behemoth with an annual revenue of Rs. 25,000 crore, plans to build a cutting-edge textile facility by taking use of the region’s plentiful raw materials, reliable power supply and first-rate transportation network. With Wardha as its core, the project is anticipated to spark a rapid industrial development in Vidarbha.

Fadnavis underlined how this investment will have a broad impact, stating that the project will support the textile industry as well as act as a cornerstone for the region’s overall industrial expansion.

Officials from OFAB, Ashish Mohapatra, Yogesh Mandani, Rajesh Chawade, and Vikram Singh were present, along with Principal Secretary of the Industrial Department Harshdeep Kamble.