The economic climate in Bengal was now conducive to industry and investment, Baba Kalyani, chairman and MD of Bharat Forge — a unit of Kalyani Group — said, expressing his wish to look for business opportunities in the state afresh.

Kalyani's plan to set up an integrated steel plant got derailed in 2008 during the tenure of former CM Buddhadeb Bhattacharjee.

Speaking on the sidelines of the 75th anniversary of Institute of Indian Foundrymen (IIF) in the city, Kalyani said: "We are manufacturing electric vehicle (EV) components and are also drawing up a product strategy for east, where Bengal will be a major focus area. Our goal is to create a new talent base in east. We have started working in Nagaland, where we are coming up with a skill development centre."

Bharat Forge is a leader in the forging space in the country. The manufacturing company operates across various sectors, including forging, automotives, energy, construction, mining, railways, marine, aerospace and defence.

Asked about the proposed INR 6,500 investment plan in Bengal earlier, the 76-year-old industrialist said: "That project could not see the light of day somehow, the major factors being the financial crisis of the time and the industrial policies of the previous govt. Bengal had been the centre of manufacturing during 1950s. I felt that the climate of the state turned hostile for industrial development in later decades."

"The sheen of Bengal as a manufacturing hub seems to be coming back and our CM, Mamata Banerjee, is taking a slew of measures to change the state's industrial climate. I could not attend BGBS 2025 because of preoccupations but I am glad to hear about the investment proposals from various sectors," said Kalyani.

During a chat session with Ravi Sehgal, past president of IIF, Kalyani said, "Moving from components manufacturing to product manufacturing should be our focus now. China cannot be our market, rather we should conquer southeast Asian markets like Thailand. And we must embrace technologies like AI to boost manufacturing."

Chief secretary Manoj Pant urged for investments from foundry industry in the state. Navneet Agarwal, president of IIF, said: "This year we are releasing regional policy advocacy that will help us address issues at the state level."