Billionaire industrialist Babasaheb Neelkanth Kalyani, widely known as Baba Kalyani, Chairman and Managing Director of Bharat Forge, met Prime Minister Narendra Modi and visiting Japanese Prime Minister Sanae Takaichi in New Delhi on Thursday, Republic World reported.

The meeting took place during the 16th India-Japan Annual Summit, held from 1 to 3 July, marking Takaichi’s first official visit to India since assuming office. The interaction was part of a packed schedule of high-level business engagements that underscored the growing role of industry in shaping bilateral ties.

Discussions during Baba Kalyani’s meeting with the two leaders centred on expanding collaboration across advanced manufacturing, defence components and precision engineering. These are sectors where Bharat Forge has established a strong footprint and where Japan is keen to secure dependable supply chains.

The meeting was significant as the joint declaration identified five priority areas for fast-tracked cooperation: semiconductors, critical minerals, information and communications technology, clean energy and pharmaceuticals.

Both governments have been urging greater involvement of Indian industry in Japan’s investment roadmap for India. At the summit, leaders reiterated that linking India’s growth story to Japan’s own economic expansion would be central to the next decade of ties.

Prime Minister Takaichi later posted on X that India and Japan, as trusted partners sharing strategic direction, had agreed a roadmap for medium to long-term collaboration. She also noted progress on concrete security cooperation, including the transfer of defence equipment.

Baba Kalyani has long been a driving force behind the India-Japan industry push. His interaction with the two Prime Ministers reflected the weight Indian business now carries in the relationship. Both New Delhi and Tokyo are keen to expand joint ventures and technology transfer, with defence and high-tech manufacturing remaining at the forefront.

Kalyani earlier co-chaired the 12th edition of the India-Japan Business Leaders’ Forum alongside Keidanren Chairman Tsutsui-san, in the presence of Prime Minister Modi and then Japanese Prime Minister Shigeru Ishiba.

The forum, held after a gap of seven years, identified priority areas for deeper cooperation such as green energy, electric mobility, space technology, artificial intelligence, semiconductors, digital technology, data centres, healthcare and electronics.

In his address to the forum, Baba Kalyani described the India-Japan partnership as a resilient and vital force for global economic security and sustainable growth amid trade uncertainties. He stressed the need to strengthen medium-term collaboration by building resilience in global value chains through the complementary strengths of both economies.

He also called for co-creation and co-development of solutions for Society 5.0, Japan’s vision of a technology-driven, human-centred society, and urged the setting up of joint standard-setting bodies to drive mutual recognition agreements across sectors. Kalyani and Tsutsui-san jointly presented the Forum Report to the two Prime Ministers, outlining recommendations to elevate the partnership.

Baba Kalyani is the Chairman and Managing Director of Bharat Forge, the flagship company of the $3 billion Kalyani Group. He joined the Pune-based engineering major in 1972 and took the lead in the early 1990s, transforming it from a domestic forging firm into a global supplier of high-precision components for automotive, aerospace, defence, railways and energy.

Founded in 1961, Bharat Forge now operates forging units in Europe through Bharat Forge Kilsta, CDP and BF Aluminiumtechnik, and has a strong presence in the ‘Make in India’ push for advanced manufacturing.

Beyond automotive, Bharat Forge has become a key player in defence and clean energy. Its wholly owned subsidiary Kalyani Strategic Systems Ltd. owns a 51 per cent stake in Kalyani Rafael Advanced Systems, a joint venture with Israel’s Rafael Advanced Defense Systems.

The group supplies artillery systems, armoured vehicles and aerospace parts to global OEMs. On the sustainability front, Baba Kalyani established Kenersys Limited to manufacture energy-efficient wind turbines and operates wind farms in Maharashtra powering group operations.

Through a joint venture with KPIT Cummins, Bharat Forge is also developing hybrid solutions to meet vehicular emission targets, while working on solar energy equipment.

Kalyani is an influential voice on industrial policy and international trade. He has served on the SKF board of directors since 2011 and chaired the Government of India’s task force on Special Economic Zones constituted in 2018.

His focus has been on building technology collaborations between Indian companies and global partners, especially in manufacturing and defence. This role was evident during the New Delhi summit, where his meeting with Prime Minister Modi and Prime Minister Takaichi reflected his position as a bridge between Indian industry and Japan’s plans to invest in India’s technology ecosystem.

His immense contributions to trade and industry have earned him several national and international recognitions. These include the Padma Bhushan, Commander First Class of the Royal Order of the Polar Star from Sweden, the Cross of the Order of Merit from Germany, and awards such as Ernst & Young Entrepreneur of the Year 2005 and Business Standard CEO of the Year 2004. As per Forbes, his net worth stood at around $2.3 billion in April 2021, and he was ranked 66th on Forbes India’s 100 richest tycoons list in 2024 with a net worth of $4.8 billion.

Japanese Prime Minister Takaichi concluded her three-day visit to India by outlining five priority areas for accelerated cooperation: semiconductors, critical minerals, information and communications, clean energy and pharmaceuticals. In a post on X, she said both countries, as trusted partners sharing strategic direction, had agreed on a roadmap for collaboration over the medium to long term.

The focus on economic security was formalised through a joint declaration that laid out specific steps in these sectors. Takaichi called the agreement on advancing energy diversification and ensuring stable supply a highly significant achievement from Japan’s energy security perspective. She also noted discussions with Japanese companies keen to expand investment in India and build innovation partnerships, linking India’s growth potential to Japan’s own economic growth.

Both sides emphasised that they will work toward the 75th anniversary of diplomatic ties next year by jointly creating economic growth and strengthening business linkages. Apart from economic ties, the visit saw concrete movement on security cooperation.

Takaichi stressed that India and Japan made progress on defence equipment transfer and agreed to hold a 2+2 ministerial meeting this year. The announcement signals deeper coordination between the foreign and defence ministries of both countries.

During her visit, Prime Minister Takaichi attended the 16th India-Japan Annual Summit at the invitation of Prime Minister Modi. The two leaders reviewed the full spectrum of bilateral cooperation and exchanged views on regional and global issues.

Reaffirming their shared vision, Takaichi said both nations will continue to take the lead in realising a Free and Open Indo-Pacific and work together to contribute to peace, stability and prosperity in the region and beyond.

Prime Minister Modi hosted an informal luncheon for Prime Minister Takaichi during the visit, which brought together top executives from both countries. The summit concluded with a reaffirmation of commitment to a Free and Open Indo-Pacific and to building resilient supply chains in a period of global uncertainty.

The visit was defined by the personal chemistry between the two leaders, with Modi referring to his Japanese counterpart as his “younger sister” in a light moment, a gesture that set a warm tone for the substantive talks that followed.

The summit closed with tangible outcomes. India and Japan signed more than 129 Memorandums of Understanding and released a joint declaration on economic security cooperation. Tokyo pledged to facilitate 10 trillion yen of investment in India over the next ten years. Both sides said the focus was now on building resilient supply chains and expanding collaboration as trusted partners.

Agencies