73rd IFC & IFEX in Kolkata: India's Foundry Industry on a Growth Path

In their opening speeches, IIF President Navneet Agarwal, Vijay S. Beriwal (Chairman IFC), and Ravi P. Sehgal (Chairman IFEX) praised the dynamic development of India's foundry industry and emphasized its excellent future prospects.

Baba Kalyani: "India Aims to Become the World’s Leading Economic Hub by 2047"

A key highlight of the congress was the keynote address by Babasaheb N. Kalyani, Chairman and Managing Director of Bharat Forge. As one of the most respected leaders in the industry, he outlined the strategic steps required to ensure the long-term success of India's foundry sector.

His core messages included:

"We live in uncertain and dynamic times, both politically and economically. Many countries—including the UK, France, Germany, and the USA—have experienced significant political shifts. At the same time, numerous geopolitical crises persist, such as in Ukraine, the Middle East, and Africa. This volatile global landscape requires us to be prepared for unpredictable developments."

Kalyani emphasized that India has a unique opportunity to undergo a massive economic transformation. The government has set a target to grow GDP to $25–30 trillion by 2047—a monumental expansion that can only be achieved through a strong industrial foundation. The foundry and metal industries are expected to play a crucial role in this value creation process.

He identified five major transformations that will shape India and the world in the coming years:

1. Digital and AI Revolution – Companies must integrate digital processes and artificial intelligence to stay competitive. Regardless of company size—whether SMEs or large corporations—embracing digitalization and AI is essential for survival.
2. Energy Transition – India is increasing investments in renewable energy sources such as solar, wind, and even nuclear power, aiming to drastically reduce dependence on fossil fuels—a major economic shift for the country.
3. Biotechnology and Genetic Engineering – Advances in healthcare and food technology are critical for India's growing population. With a population of approximately 1.45 billion, issues like health and nutrition are of utmost importance.
4. Supply Chain Transformation – India must establish itself as a global manufacturing hub, particularly amid geopolitical shifts ("China Plus One" strategy). This requires technological advancements and an increase in production speed—meaning automation across all sectors and investment in cutting-edge equipment.
5. Demographic Shift and Skilled Labor Shortage – With an average age of 29, India has a significant demographic advantage over aging societies like Japan or Germany. This young workforce must be nurtured and trained, presenting a huge opportunity for economic growth.

India Must Become More Creative and Innovative

India aims to emerge as a global economic leader by 2047, as clearly outlined by Prime Minister Modi’s "Six-Pillar Strategy". This strategy envisions India contributing 20% of global economic growth within the next decade. Additionally, per capita income is expected to rise from the current $2,200 to over $5,000 by 2031.

In the past, countries like Japan, South Korea, and India had similar economic standings. Today, China’s economy is ten times larger, and India stands at the threshold of a comparable transformation.

One key takeaway was that India must not remain just a service provider for other nations but must develop its own innovative products. Kalyani drew comparisons with China, which has experienced rapid economic growth over the last few decades. India must now follow this path with determination.

Conclusion: India’s Chance to Become a Leading Industrial Nation

India has a unique opportunity to rise as a global industrial powerhouse in the coming decades. However, achieving this will require strategic investments, technological advancements, and leveraging its demographic strengths. The foundry and metal industries will be fundamental pillars of this transformation.

The keynote concluded with a clear call to action:

"India must not only grow but also establish itself as a hub for innovation and production to secure its place in the global economy."

About Bharat Forge:

Bharat Forge is a global leader in metal forming and a key supplier to the automotive, aerospace, rail, construction, and energy industries. Headquartered in India, the company is part of the Kalyani Group and is renowned for its advanced forging and machining technologies.

Key Business Areas of Bharat Forge

1. Automotive Industry
   • Manufacturing of forged and machined components for engines, transmissions, axles, and chassis.
   • Development of lightweight components to enhance vehicle efficiency.
2. Aerospace
   • Forged parts for aircraft engines, landing gear, and structural components.
   • Collaborations with major aircraft manufacturers.
3. Energy & Infrastructure
   • Components for wind turbines, power plants, and the oil & gas industry.
   • Investments in renewable energy and hydrogen technology.
4. Rail & Commercial Vehicles
   • Axles, wheelsets, and structural parts for railway vehicles.
   • Components for heavy-duty trucks and construction machinery.
5. Defense Industry
   • Parts for military vehicles, artillery systems, and defense technology.

Global Presence

Bharat Forge operates manufacturing facilities in India, Germany, the USA, and France. In Germany, the company is strongly positioned through the acquisition of CDP Bharat Forge, Bharat Forge Aluminiumtechnik, and Bharat Forge Global Holding GmbH.

The company is increasingly investing in e-mobility, hydrogen technology, and digitalization to stay ahead in future markets.