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Dipankar Ray has a diverse work experience spanning over three decades. Dipankar began their career as an Engineer at Hindustan Aeronautics Limited, where they focused on Helicopter Dynamics. In 1989, they transitioned to Eicher, where they held the position of Senior Manager, working on Engines. After over a decade at Eicher, Dipankar joined GE in 2000, where they served as the Global Engineering Manager for Locomotive, Marine, and Stationary Engines. In 2011, they joined Mahindra and Mahindra Limited, initially as General Manager of Engines and then as Senior General Manager of Heavy Duty Diesel Engines. Dipankar later became the Vice President and Chief Engineer, leading the Center of Excellence, and ultimately became the Senior Vice President and Head of Global Product Development for the Farm Division. Dipankar's expertise lies in product development, particularly in the field of engines, and they have played significant roles in leading and managing teams throughout their career.

Dipankar Ray completed a B Tech degree in Mechanical Engineering from the Indian Institute of Technology, Kharagpur, from 1981 to 1985. Subsequently, they attended the GE Crotonville program in 2006 for an Advanced Leadership Program. Lastly, in 2014, they participated in the Global Program of Management Development at the Michigan Ross School of Business.