Apollo Tyres Ltd is planning to become a $5 billion company by 2026 on the back of Apollo and Vredestein’s dual-brand strategy, an improving economy, higher exports and a sharp recovery in India’s automobile sector. The next five years will be about consolidation and reaping the benefits of investments made in technology, capacity and brands over the last five years, said Satish Sharma, president-Asia Pacific, Middle East and Africa.
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Tyre manufacturers in India are expected to be the key beneficiaries of an upturn in the world’s fifth-largest automobile market. They will benefit from a higher offtake of tyres by automakers on the one hand and its ripple effect that would result in steady growth for the replacement demand, on the other.
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