Meet man, who spend childhood in a poor district, now owns Rs 5000000000 company, he is.., his company is…
He later returned to Pune and founded a sand casting startup with just 10 workers, naming it G&B Metal Castings. Though he had clients in Europe, couldn't get the capital. In 2016 he convinced German-Polish casting company Thoni Alutec to invest Rs 350 crore in India, this is when Taural India was founded.
After hands-on experience in German foundries, Gite mastered production processes and also deeply understood German quality standards. Taural India invested in dual knowledge transfer like training Indian engineers abroad and bringing German experts to India for on-ground guidance. 'Initially, we reverse-engineered some critical parts, but later built our own R&D, design, and simulation teams to enable localization,' he said in an interview with CNBC. Taural India's Rapid Growth
Taural India's real growth story started after 2020, when the company moved out of a rented facility and into its own large-scale production plant. Gite shared, 'Initially, our turnover was Rs 30-40 crore. Today, we've crossed Rs 300 crore and have been growing at an annual rate of 25–30% over the past four years.'
In just a few years, Taural India increased its capacity and valuation. Gite estimates the company's current valuation can cross over Rs 700 crore. The initial investment of Rs 350 crore went into setting up the Pune plant in Chakan. Now, a new Rs 500 crore facility is coming up in Supa, near Ahmednagar (Ahilyanagar), of which Rs 200 crore has already been invested.
Once the Supa plant becomes operational, production capacity is expected to grow fourfold. Gite anticipates annual growth reaching 35–40% in the coming years. Beating China Through Local Sourcing
From a team of just 10 in 2016, Taural India now has 800 people, many from rural Maharashtra, where farming struggles are common. Gite noted, 'Earlier, European clients would place orders a year in advance and pay upfront to stock materials. Now, they receive the same products in real-time faster, cheaper, and locally made.'
While the company started in Germany, Taural now exports castings to countries like Switzerland, Bulgaria, Sweden, Czech Republic, Vietnam, South Korea, the U.S., and Japan. Its major clients include General Electric, Siemens, Hyosung, and ABB.
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Weighing around three kg, the gas-operated JVPC features an ergonomic, ambidextrous design with a retractable stock and Picatinny rails for optics and accessories. Capable of firing over 700 rounds per minute to an effective range of 200-300m, it reportedly exhibits low recoil and is believed to demonstrate high reliability across extreme temperatures and in varied environments and incorporates a 120mm bayonet for hand-to-hand combat. Its service life is engineered for a service life of 15 years or 15,000 rounds, whichever comes first. Adani Defence, on the other hand, will produce the Israel Weapon Industries (IWI) Galil ACE CQB carbines-locally named 'Jeet', meaning 'victory'. It features a 368 mm long barrel, a weight of 3.2 kg, and a rate of fire between 650-750 rounds per minute to a 300-500 m range. 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The absence of features like a folding stock or compact design further hindered its suitability for rapid movement and handling in close and restrained urban situations. Soldiers found it challenging to quickly reposition and engage enemy targets, simply due to the rifle's size and weight. But despite these obvious limitations, these shortened INSAS alternates remained in widespread use for years and continue even today. However, in 2002-3, the first global tender was floated for 44,618 5.56x45mm CQB carbines, with under-barrel grenade launcher compatibility. Several trials took place, involving major overseas small arms makers like the US's Colt, Italy's Beretta and IWI. But in 2007-2008, after extended trials at the Infantry School at Mhow, in Madhya Pradesh, in the Rajasthan desert, Punjab's plains and high altitude regions in Sikkim and Himachal, the contract was terminated due to the Indian Army's 'overreach' in determining the carbines specifications or Qualitative Requirements (QRs) about their add-ons, like thermal-designated laser sights. A follow-on RfP was issued in December 2010 for an equal number of weapons. Then again, in 2013, after a protracted three-year trial process, the carbine procurement was once again thwarted, not by performance issues, but over a minor safety feature. One of the shortlisted carbines included a small, screw-like safety component designed to render the sights "eye safe" during low-intensity engagements, thereby preventing potential retina damage. 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