Foundry industry in Bengal to receive Rs 2,000 crore investment by FY'26

Kolkata, Feb 9 (PTI) The foundry industry in West Bengal will receive Rs 2,000 crore investment in new and brownfield expansions to boost capacity amid cost pressures and evolving demand trends, an official said on Sunday.

"West Bengal is witnessing a growth rate 50 per cent higher than the national average. Considering both large and MSME foundry expansions and greenfield projects, the cumulative investment will be Rs 2,000 crore, of which MSMEs will contribute Rs 400 crore," said Navneet B Agarwal, president of the Institute of Indian Foundrymen (IIF), in an interaction with PTI.

He was speaking on the occasion of the 73rd Indian Foundry Congress & International Foundry Exhibition, which returned to Kolkata after eight years.

"The foundry industry is facing challenges due to a slowdown in the automotive sector, but eastern India is largely insulated from this as its demand comes from railways, ductile pipes for water supply, exports, and defence," Agarwal said.

He further stated that in FY 2025-26, the industry is expected to grow by 15-18 per cent in volume terms and about 20 per cent in value terms.

West Bengal's foundry sector contributes around USD 2 billion to India's USD 19.5 billion foundry industry, with most units operating in the MSME segment.

Exhibition committee chairman Vijay S Beriwala noted that the event has attracted around 1,000 delegates, including participants from 15 countries. "This year's exhibition is the largest so far," he said.

Addressing the inaugural session, Bharat Forge CMD Baba Kalyani emphasised India's potential to become a key global supply chain player in the coming decades. He urged the industry to take a pledge to make India a "product nation" by focusing on innovation. PTI BSM RG

Source: PTI