Back in 1989, when Indian entrepreneur Baba Kalyani announced he was investing a billion rupees ($23.6 million) to upgrade the family’s forging factory in Pune and double its capacity, local observers thought he’d lost his mind. At the time, India was considered a manufacturing backwater of poor product quality, cheap workmanship, and limited growth.
But his ambitious move fueled an expansion strategy that has created one of the world’s largest forging companies, Bharat Forge. MIT-educated Kalyani is now chairman of a global manufacturing group worth over $1 billion a year, with plants in India, China, Germany, Sweden, the United Kingdom, and the United States. Every second truck built in the United States and Europe and almost every car in the world now has some part made by the company.
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