Kalyani noted that India’s industrial landscape has evolved greatly over recent years, with increased private-sector involvement in defence, space, and advanced manufacturing. He predicts that the defence sector will experience rapid growth in the coming years as Bharat Forge aims to penetrate global semiconductor equipment supply chains.
“I believe we will see a substantial boom in this sector within the next five to seven years,” Kalyani remarked while highlighting the opportunities in defence manufacturing.
Kalyani mentioned that one of the most significant changes has been the transition from merely supplying components to designing and producing complete defence platforms in India.
The company has recently secured a major order for carbines from the Indian Army and is witnessing rising interest from international defence manufacturers looking for partnerships in India.
Kalyani added that Bharat Forge earns a considerable portion of its defence revenue from international markets.
“Nearly 40% of our total defence sales come from exports,” he specified, noting that demand is growing from various countries as global defence spending increases.
Bharat Forge, boasting a market capitalisation of ₹91,415.33 crore, has achieved a share price increase of over 42% in the past year.
Bharat Forge is also pursuing opportunities arising from the semiconductor ecosystem. While the company does not intend to manufacture semiconductors, it aims to integrate into the supply chain for equipment used by leading chipmakers.
Kalyani mentioned that Bharat Forge is collaborating with major global semiconductor equipment manufacturers, including ASML, Lam Research, and Applied Materials, to provide specialized metal components for semiconductor production equipment.
The company anticipates progress on these initiatives over the coming year as supplier qualification processes are finalized.
Bharat Forge is making substantial investments in its manufacturing capabilities. Kalyani revealed that the company is investing over ₹1,000 crore in a new facility in Baramati, Maharashtra, dedicated to high-technology forgings and machine parts utilized in data centre power backup systems.
This plant is expected to commence operations in the fourth quarter of this year and is strategically positioned to meet the growing demand for AI-related infrastructure.
Kalyani expressed that India should continue enhancing the ease of doing business and focus on scaling up in emerging sectors such as electric vehicles (EVs). He emphasized the necessity of increasing research and development expenditure to facilitate India’s shift from a services-driven economy to a product-focused manufacturing powerhouse.
For the complete interview, watch the accompanying video
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