BKT looks to Indian mining sector for growth opportunities
Rajiv Poddar, executive director of BKT (Balkrishna Tyres), says India’s huge natural mineral deposits will provide future opportunities for the tyre industry in his guest of honour address at Tyrexpo India 2013. The show runs at the Chennai Trade Centre from 9-11 July, and joining Poddar at the opening of its second staging were the chairman of the Chemical and Allied Export Promotion Council of India’s tyre panel, P Prasanth; P.Vijayaraghavan of exhibitor TVS Tyres; and Nirmal Singhvi of the Tamil Nadu Tyre Dealers Association.
Poddar continued: “India is very rich in mineral resources and the mining industry has yet to fully explore the mineral wealth the country is blessed with. Apart from being the world’s largest producer of mica and iron ore, it is also blessed with abundant resources of manganese, bauxite and limestone. One of the world’s largest coal producing companies is also from India.”
As a prominent OTR specialist, BKT is seeking a competitive advantage in this growth area with plans to expand its domestic production from eight to 10 per cent of its enhanced capacities by 2015. “The Indian construction industry has a strong captive consumption with the top players focusing on sourcing and manufacturing in India. The world’s largest manufacturers of Backhoe loaders and Pick ‘n’ Carry hydraulic mobile cranes are also from India,” he added.
BKT currently holds a 5 per cent share of the US$14 billion global OTR market and has stated its ambition to double this to 10 per cent by 2015, when company turnover is targeted to reach $1.36 billion. Much of the additional capacity for growth will be generated from BKT’s new greenfield facility in Bhuj, Gujarat, which has now started production and will reach full capacity during 2015.
ECI International, the show’s organiser, predicts that delegates from more than 60 countries will spend time at the show over the next three days, providing the opportunity for global trade interchange between domestic Indian exhibitors and international suppliers and buyers.