Tyre demand to remain robust amid positive economic environment: JK Tyre CMD
positive economic environment, JK Tyre Chairman and Managing Director Raghupati Singhania said. In an interaction with PTI, the veteran industry leader said that robust Gross Domestic Product (GDP) growth and the government's focus on infrastructure development, is expected to fuel growth for the automobile sector as well as the tyre industry.
«We see that the domestic demand will continue to be robust due to the healthy macroeconomic factors as well as the investments in infra and of course, overall feel good economic environment that we are running through,» he said.
Elaborating on some positive factors, Singhania said freight availability remains consistent, helping the commercial vehicle segment.
Besides, robust GDP growth and more disposable income is helping in the enhanced offtake of cars, he noted.
«So, we foresee that car demand will go up and so will the demand for tyres,» Singhania said.
He said more and more people are now looking to travel by road as various high quality roads have come up in the last 18-20 months.
«This is going to open new venues of usage of cars in particular. And, therefore, the consumption of tyres,» Singhania said.
On JK Tyres, he said the company being a leader in the truck and bus radial tyres continues to focus on the segment.
«However, we will also have an enhanced focus on Passenger Car Radial (PCR) because the headroom is even better in the segment,» he added.
Singhania said the company's topline has been growing consistently over the last few quarters and it expects to maintain it going ahead.
