Wheels India, a supplier for cars, trucks and tractors will spend over INR700m (US$14m) this year on expansion.
A significant part of the investment will be for growing exports, the company’s managing director Srivats Ram told Economic Times of India.
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The company has plants at Padi and Sriperumbudur in Tamil Nadu; Pune, Rampur, Bawal and Pantnagar with overall annual capacity of 15m wheels, he said.
While over 80% of the business comes from the domestic market, the company exports wheels for off-road construction equipment and agricultural applications to Japan, Korea, US, Brazil, Belgium, South Africa, China and Indonesia.
Wheels India had earlier this fiscal year entered into a technical agreement with Topy Industries, a Japanese steel wheel manufacturer, for process, design and development of car wheels.
