For Baba Kalyani, chairman of the $2.4 billion, or around Rs11,352 crore (by revenue for the year ended March), Kalyani Group that owns Bharat Forge Ltd, venturing into global business through the 2004 acquisition of CDP Aluminiumtechnik GmbH of Germany, was part of a carefully charted strategy. The acquisition turned the company from a low-cost supplier of auto components into a multinational that could compete globally.

Over the next three years, the group made two more acquisitions in Germany, and one each in Sweden, Scotland, the US and China, becoming one of the world’s largest forging companies. In an interview, Kalyani spoke about his firm’s investments and acquisitions in Europe and the way ahead in what is one of the worst times for the auto industry .

Playing safe: Kalyani Group chairman Baba Kalyani.