Wheels India, supplier to vehicles including cars, trucks and tractors will invest over Rs 70 crore this year on expansion.
A significant part of the investment will be for growing the exports market, the company's Managing Director Srivats Ram told PTI.
The company has plants at Padi and Sriperumbudur in Tamil Nadu; Pune, Rampur, Bawal and Pantnagar with overall annual capacity of 15 million wheels, he said.
While over 80% of the business comes from the domestic market, the company exports wheels for off-road construction equipments and agricultural applications to Japan, Korea, US, Brazil, Belgium, South Africa, China and Indonesia.
Wheels India had earlier this fiscal entered into a technical agreement with Topy Industries, a leading Japanese steel wheel manufacturer, for process, design and development of car wheels.
