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.

Also Read | SBI SCO Recruitment 2025: Applications Open For 150 Trade Finance Officers Posts at sbi.co.in, Know Steps to Apply.

"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.

Also Read | January 4 Birthdays and Birth Anniversaries: Know About Famous People and Celebrities Born on January 4.

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 is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)