Pune-based diversified Indian multinational Kalyani group, which has a market capitalisation of over ₹73,000 crore across its companies including flagship Bharat Forge, is strategising to expand in the east.

In 2008, the group had prepared a plan to expand in the steel sector in Bengal, which did not take off. However, Bengal along with other eastern states, are back on the radar. In 2024, Kalyani Steels announced projects worth ₹11,750 crore in Odisha.

“Back in 2008, during that time, unfortunately, the financial crisis took place and everybody’s plans went into a tailspin, including ours. It was a difficult period for all of us in the manufacturing sector and also in the financial sector,” said Baba Kalyani, chairman and managing director, Bharat Forge.

“I used to come to Calcutta in the early 1970s because most of our customers were here. The main activity of the engineering industry was in the east, and there were so many companies here. But Bengal’s standing in the manufacturing industry went down. I think it will come back again. I think the chief minister is trying to fix this and the state is getting capital and investments,” Kalyani said on the sidelines of the 75th year celebrationof the Institute of Indian Foundrymen.

He said a presence in the east is increasingly important to gain a foothold in the South East Asian market. “East for any Indian business has to be part of strategy, whether it is Bengal, Assam or Nagaland, it does not matter. But it has to be in the east somewhere. If we have to go to markets like Thailand, Indonesia, South East Asia, we can only do it with presence in the east and not sitting in Pune,” said Kalyani.

“As far as the group is concerned, we want to create a strategy for going east. I can’t do it as I am 76 years old. I am only working because I enjoy working and it’s my passion. But it is for the younger people to create that strategy and make it happen,” he said, adding the idea is to create a talent base in the east, which can be used to grow the business.

“We have started working on our skill development centre in Nagaland. It is one of the difficult areas to operate and we want to get some experience. We do not have any investment plan yet (for Bengal). But we would certainly like to create a product strategy for the east, and that largely is going to be in the region of electric mobility. When we do that Bengal of course will be part of that strategy,” he said.