Indias monthly truck bus radial tyre imports record a new high averaging 1.2 lakh
The Dollar Business Bureau Due to an increase in dumping from China, India’s monthly imports of truck and bus radial tyres (TBR) recorded new highs averaging 1.2 lakh units in 2016-17. This has prompted the Automotive Tyre Manufacturers Association (ATMA) to reiterate its demands to DGAD seeking an early imposition of anti-dumping duty on the imports of TBR from China. Seeking an early redressal to help the domestic industry ATMA revealed the alarming figures that have been spiralling in the last few years. In its statement to the government, it said that the monthly numbers have now touched an average of 1.2 lakhs units in FY17 from a mere 40,000 in FY14. Imported tyres account for 40% of the replacement demand for ...
Gulf Oil targets robust growth, plans to invest Rs 150 cr
The Dollar Business Bureau Gulf Oil Lubricants India Ltd, the leading lubricant multinational, said on Wednesday that it is targeting a strong organic growth in the coming few years and is in process to invest Rs.150 crore in the company’s new unit in Chennai. The company stated that it will also put more focus on the passenger automotive business.“We are aiming for strong growth in India. We are putting up our second greenfield plant at Chennai at a cost of Rs.150 crore to augment the capacity in the next 18 months to 1.35-1.40 lakh MT capacity,” said Ravi Chawla, Managing Director, Gulf Oil Lubricants. Recently, the company had invested Rs.40-45 crore as capital expenditure to ramp up the capacity of its first plant ...
GE Brilliant Factory unit at Pune to boost Indian exports
Sai Nikesh | The Dollar Business The Indian Prime Minister Narendra Modi on Saturday called on the global manufacturers to make better use of Make in India initiative. Inaugurating US-giant General Electrical’s Greenfield multi-modal manufacturing facility at Chakan, Pune, Narendra Modi stressed on immense manufacturing opportunities available in India. Hailing upon GE for its manufacturing facility unit, the PM urged the company to further its investments in ship-building, among various other sectors of India. The PM also highlighted the need for investments in defence manufacturing sector, while stating that Pune has immense potential to emerge as a defence production hub. He also emphasized on the Railway sector stating that the sector could become an engine of economic growth, and ...
