Nipha Group embarks on Rs 180-crore expansion plan

Kolkata, Jan 4 (PTI) The Nipha Group, a city-based engineering and manufacturing firm, on Saturday unveiled an investment strategy on its 65th anniversary, allocating Rs 180 crore for India operations over the next two years.
    As part of the expansion plans, the company announced its intention to acquire a US-based company, bolstering nearshore presence in its largest market and leveraging the 'China Plus One' strategy.
    "We are committed to the region, with two greenfield projects at Dankuni and Chandannagar in West Bengal and a brownfield expansion at Falta, creating potential job opportunities.
    "We have over 2,000 employees and seven operational units in this region," Chairman M C Shah said.
    He also said that dialogues for the US acquisition are underway.
    The company exports products to over 30 countries from India.
    It had invested Rs 90 crore in the 2023-24 fiscal, and has allocated an additional Rs 180 crore capex for FY'25 and FY'26.
    To commemorate its anniversary, the Nipha Group also released a biography, ‘Grihasth Rishi’, honouring its Chairman Emeritus, the Late G D Shah.
    The event also featured a Sarod performance by Ustad Amjad Ali Khan.

(This story has not been edited by THE WEEK and is auto-generated from PTI)