Tube Investments to focus on other businesses to reduce exposure to auto

Growth in these businesses will have to come from both organic and inorganic means over next 3-5 years, says firm's MD Vellayan Subbiah

The Murugappa Group's engineering firm, Tube Investments of India (TII), has said that it is focusing on a set of businesses to reduce its dependence on the auto sector and its cyclical nature. The firm sees a lot of opportunity in its present business mix, which it intends to expand in the future, said a senior management official.

Growth will have to come from both organic and potentially inorganic means over the next 3-5 years, said TII managing director Vellayan Subbiah.

"We are focusing on a set of businesses that should hopefully reduce our dependence on the auto sector and its cyclicality,