H M Bangur, Chairman, Shree Cement, handing over LoI to invest Rs 2000 cr to Chief Minister, Devendra Fadnavis, at the World Hindu Economic Forum 2025 in Mumbai
Mumbai (Maharashtra) [India], December 22: The World Hindu Economic Forum (WHEF) 2025, a two-day conference themed “Innovation, Self Reliance and Prosperity”, was formally inaugurated in Mumbai on Friday by the Chief Minister of Maharashtra, Shri Devendra Fadnavis. The inaugural session was attended by the Chief Minister of Madhya Pradesh, Shri Mohan Yadav, Swami Vigyananand, Founder of WHEF, Shri Rajesh Sharma, Chairman of the WHEF Organising Committee, and leading industrialists including Shri Hari Mohan Bangur, Chairman, Shree Cement Ltd, and Shri Sajjan Jindal, Chairman, JSW Group, along with policymakers, startup founders, business leaders and investors.
A key highlight of the opening day was the address by Shri Hari Mohan Bangur, who emphasised India’s inherent strengths in talent, resources and technology, asserting that the country does not need to look outside for leadership or inspiration. On the occasion, Shri Bangur also handed over a letter of intent to invest ₹2,000 crore in Maharashtra to Chief Minister Shri Devendra Fadnavis.
Highlighting the ethical foundation of Indian economic thought, Shri Bangur stated that ‘dharma guides artha’ in Indian culture and that profit must always be accompanied by responsibility. “We must get out of the Macaulayan education system and reinvest in our old values. For centuries India alone accounted for nearly 30 per cent of the world economy. But something negative happened with the coming of Europeans who successfully looted the country. A Hindu Economic Forum was necessary and it has been created and is working fine. The Forum may take a year or 10 years, but it will surely be successful,” he said.
Speaking on innovation, Shri Bangur shared Shree Cement’s experience of technological advancement in energy efficiency. “Power plants in India usually shuts down below 60 per cent capacity utilisation. Our engineers made some innovative changes and brought down the capacity utilisation threshold and we could run our power plants at 30 per cent capacity. This reduced lot of coal from unnecessary burning. The energy ministry noticed this innovation and came to inquire from our engineers how we did it.”
Calling for a mindset shift, he added, “We should unshackle ourselves and bring innovation in our thinking and in our education.”
Chief Minister of Maharashtra, Shri Devendra Fadnavis, described the World Hindu Economic Forum as a vital platform for collaboration and dialogue. “World Hindu Economic Forum is a great medium to forge connections. We believe there is an underlying Hindu philosophy at the core of our economic system. If we understand this philosophy we will stand up as a very prosperous nation, create a harmonious society and effectively contribute to the world vision that we have,” he said.
[Industrialist Hari Mohan Bangur, Chairman, Shree Cement, handing LoI to invest Rs 1000 to 1500 cr in MP to CM, Mohan Yadav, at the World Hindu Economic Forum 2025]
Speaking on the sidelines of the conference, Chief Minister of Madhya Pradesh, Shri Mohan Yadav, highlighted India’s growing global stature and the role of states in driving economic growth. “India, under Prime Minister Narendra Modi, has created its own space and identity in the global affairs. As our country moves towards becoming the third largest economy in the world, every state has an important role to play. When we talk of innovation and rapid economic growth, Madhya Pradesh is one of the frontal states in the country having garnered 8.5 lac crores of investment. Madhya Pradesh is moving ahead in the mining sector, energy, tourism, religious tourism and others,” he said.
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