West Bengal Foundry Boom: Rs 2,000 Crore Investment Sparks Growth

The foundry industry in West Bengal is set to receive a significant boost with a Rs 2,000 crore investment in both new and brownfield expansions, aimed at increasing capacity amidst cost pressures and changing demand. This move is expected to result in substantial growth and economic impact for the region.

The foundry industry in West Bengal is poised for expansion with a substantial Rs 2,000 crore investment, according to industry officials. The funds will target both new and brownfield projects, significantly boosting capacity as the region grapples with cost pressures and shifting demand trends.

Navneet B Agarwal, president of the Institute of Indian Foundrymen, declared that the growth rate in West Bengal's foundry sector is notably higher than the national average. The cumulative investment will include Rs 400 crore from MSMEs, further invigorating the local economy.

Despite challenges from a slowdown in the automotive sector, the eastern region remains robust due to demand from railways, water supply, and defense. The industry anticipates a growth rate of 15-18% in volume and 20% in value by FY 2025-26, positioning itself as a powerhouse within India's USD 19.5 billion sector.

(With inputs from agencies.)