Baba Kalyani Meets PM Modi And Japanese PM Takaichi As India-Japan Partnership Charts Next Phase Of Industrial Ties

New Delhi: Billionaire industrialist and Bharat Forge Chairman Babasaheb Neelkanth Kalyani (Baba Kalyani) met Prime Minister Narendra Modi and visiting Japanese PM Sanae Takaichi in New Delhi on Thursday as both countries moved to deepen economic and technological cooperation during the 16th India-Japan Annual Summit. The interaction took place on the margins of a packed schedule of high-level business engagements during PM Takaichi’s 3-day official visit to India from July 1 to 3, marking her first trip to India since taking office.

Discussions during Baba Kalyani’s meeting centred on expanding India-Japan collaboration across key industrial areas. The conversation outlined advanced manufacturing, defence components and precision engineering, sectors where Bharat Forge has a strong footprint and where Japan is keen to secure dependable supply chains. Baba Kalyani's meeting with the two Prime Ministers was significant, as the joint declaration identified 5 priority areas for fast-tracked work, which included 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. PM 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, and noted progress on concrete security cooperation including the transfer of defence equipment.

Industry’s Growing Role In The Strategic Partnership

Baba Kalyani has been driving the India-Japan industry push for years, and his interaction with the two Prime Ministers reflected just how much weight Indian business now carries in the relationship. Both New Delhi and Tokyo are keen to expand joint ventures and technology transfer, and the focus remains firmly on defence and high-tech manufacturing.

It is pertinent to mention that the Bharat Forge MD earlier co-chaired the 12th edition of the India-Japan Business Leaders’ Forum alongside Keidanren Chairman Tsutsui-san, in the presence of PM 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 called the India-Japan partnership 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.

Who Is Padma Bhushan Baba N Kalyani

Baba Kalyani is the Chairman and Managing Director (MD) of Bharat Forge, the flagship company of the estimated $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 on June 19, 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.

Other than automotive, the business tycoon has built Bharat Forge into a key player in defence and clean energy. The firm's wholly owned subsidiary Kalyani Strategic Systems Ltd. owns a 51% stake in Kalyani Rafael Advanced Systems, a 2015 joint venture with Israel’s Rafael Advanced Defense Systems. The group also supplies artillery systems, armored vehicles, and aerospace parts to global OEMs. On the sustainability front, Baba Kalyani had set up Kenersys Limited to manufacture energy-efficient wind turbines and has wind farms in Maharashtra powering group operations. Through a JV with KPIT Cummins, Bharat Forge is also developing hybrid solutions to help meet vehicular emission targets, while also working on solar energy equipment.

Kalyani is an influential voice on industrial policy and international trade, who 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 June 2018. His focus has been on building technology collaborations between Indian companies and global partners, especially in manufacturing and defence. The role was evident during the New Delhi summit, where his meeting with PM Modi and Japanese PM Sanae 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 received several national and international recognitions. The honours 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 like 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.

5 Key Sectors Identified To Fast-Track India-Japan Partnership

Japanese PM Takaichi wrapped up her 3-day visit to India by outlining 5 priority areas for accelerated cooperation, which are 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," agreed on a roadmap for collaboration over the medium to long term.

The focus on economic security was formalized through a joint declaration that lays out specific steps in these 5 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, to link "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.

Progress On Defence And Indo-Pacific Cooperation

Apart from economic ties, the visit saw concrete movement on security ties, as 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 from July 1 to July 3, at the invitation of PM Modi, Takaichi attended the 16th India-Japan Annual Summit. 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 realizing a Free and Open Indo-Pacific" and work together to contribute to peace, stability, and prosperity in the region and beyond.

16th India-Japan Annual Summit

PM Modi hosted an informal luncheon for PM Takaichi during the visit, which brought together top executives from both countries. The 16th 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 16th India-Japan Annual Summit provided the backdrop for the meeting. Apart from the formal discussions at Hyderabad House, the visit was defined by the personal chemistry between PM Modi and PM Takaichi, with both leaders projecting a shared intent to take the Special Strategic and Global Partnership to a new level. PM Modi referred 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 also 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.

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