With consumer demand soaring in rural and semi-urban regions throughout the holiday season, JK Tyre & Industries is on track to invest Rs 1100 crore over the next two years to increase production capacity.

AnujKathuria, President (India), JK Tyre & Industries, said, “While globally there are uncertainties which may slow down growth in international markets, there is a buoyancy in demand here. The festive season has given impetus to sales, especially in rural and semi-urban markets. With normal monsoons, rural economy picking up, we are planning for higher levels of production.”

Kathuria said the company’s manufacturing facilities are functioning at “good” utilisation levels. Investments are underway to increase capacity passenger car radials and truck bus radials in the two years to the close of FY24. “The company has already undertaken efficiency measures to boost production last year. Capacity is now coming up to meet future demand,” he said.