JK Tyre's Bold Expansion: Revving Up for Global Markets

JK Tyre and Industries plans to invest Rs 5,000 crore over the next 5-6 years to expand production capacity. The company introduced India's first smart tyres and is eyeing export market expansion. High US tariffs are causing a strategic shift in export destinations. Domestic growth anticipated with GST changes.

JK Tyre and Industries is set to make a significant financial commitment with an investment of Rs 5,000 crore over the next five to six years to bolster its production capabilities. This plan includes developing dedicated export lines, according to Chairman and Managing Director Raghupati Singhania.

The company recently unveiled India's pioneering embedded smart tyres for passenger vehicles. It is in the midst of concluding a Rs 4,000 crore investment aimed at modernizing its manufacturing infrastructure. The existing investment cycle is projected to conclude by the next quarter.

Currently, exporting to around 110 markets worldwide, JK Tyre is redirecting its strategy due to high US tariffs, focusing on diversifying export destinations. Meanwhile, domestic market growth is anticipated, thanks to GST adjustments and a resurgence in demand for small cars.

(With inputs from agencies.)