With 2017's hurdles behind it, JK Tyre to invest close to Rs 5 bn in 2018
Amidst revival in the demand and Government push for Make-in-India efforts, tyre major J K Tyres is planning to invest around Rs 500 crore to increase its capacity.Arun Bajoria, Director & President (International Operations), JK Tyre & Industries Ltd said that the year 2017 has been full of challenges, including the lingering effects of demonetisation and high raw materials prices that have impacted the industry in January-March quarter and the following two quarters, followed by GST affected production of OEMs, particularly the commercial vehicles.But now things are looking better as we look forward as most of the economic parameters are looking better. Structural reforms, including demonetisation and GST have disrupted the Indian market."The upcoming scenario for Q4 looks positive, the economy is predicted to grow, the automobile industry and tyres, which we mainly deal in will grow," said Bajoria.He added, other Centre's initiatives like anti-dumping duty on import of ...