Foundry MSMEs To Investment Rs 400 Crore In West Bengal

Kolkata, Feb 10 (KNN) The foundry industry in West Bengal is poised for significant expansion with planned investments of Rs 2,000 crore in new and brownfield projects, signalling robust growth in the sector.

The announcement came during the 73rd Indian Foundry Congress & International Foundry Exhibition in Kolkata, marking the event's return to the city after an eight-year hiatus.

Institute of Indian Foundrymen (IIF) President Navneet B Agarwal, in an interaction with PTI, highlighted that West Bengal's growth rate currently exceeds the national average by 50 percent.

Of the total investment, micro, small, and medium enterprises (MSMEs) are expected to contribute Rs 400 crore, demonstrating strong participation from smaller players in the sector's expansion.

While the automotive sector slowdown has impacted the broader foundry industry, eastern India remains relatively protected due to its diverse demand base, including railways, ductile pipes for water supply, exports, and defence sectors.

The industry is projected to achieve 15-18 percent volume growth and approximately 20 percent value growth in FY 2025-26, according to Agarwal.

West Bengal's foundry sector, predominantly comprised of MSME units, currently contributes USD 2 billion to India's USD 19.5 billion foundry industry.

The ongoing exhibition has drawn unprecedented participation, with around 1,000 delegates from 15 countries attending, as noted by exhibition committee Chairman Vijay S Beriwala.

During the inaugural session, Bharat Forge CMD Baba Kalyani emphasised India's potential to emerge as a crucial player in global supply chains.

He called upon industry stakeholders to commit to transforming India into a ‘product nation’ through increased focus on innovation, underlining the sector's strategic importance in the country's manufacturing landscape.

(KNN Bureau)