Ganguly, born in 1942, went to the United States after finishing school at Darjeeling for a degree in engineering and management. He got a bachelor’s degree in industrial engineering from Pennsylvania University, Philadelphia, and a post-graduate degree in management engineering from Columbia University, New York.

After spending 10 years in the US working with DuPont Corporation, Ganguly returned to India to join his family business -- Bengal Enamel -- as production planning engineer and works manager. He gradually became the company's managing director.