India can always find new markets: JK Tyre’s Singhania on US, Mexico tariffs

Raghupati Singhania, Chairman and Managing Director, JK Tyre & Industries
| Photo Credit:
KAMAL NARANG

India can always find new/alternative markets for its goods, even if it takes a few years. It doesn’t have to depend on markets like the US or Mexico, Raghupati Singhania, Chairman and Managing Director, JK Tyre & Industries, told businessline.

“We can find alternate markets for our produce. It will take time. It obviously will not happen in one day. In two years maybe, but ultimately we will be less dependent on USA. I think we have the potential to do that as a country, as an economy. As far as the US is concerned, I don’t understand them. But my sense tells me that Mr. Trump (President Donald Trump) will have to come back to some equilibrium. The US economy will not be able to afford this kind of high tariff imported goods,” he said.

After the US in August, Mexico has also announced a new tariff structure that will raise duties to a maximum of 50 per cent on certain goods, with most products facing increases capped around 35 per cent, effective January 1.

“As far as India is concerned, it’s still in limbo. There’s nothing decided yet. But we have very consciously changed our direction of exports already. For instance, we are developing Europe in a big way. We’re investing a huge amount of money in development products for Europe. We are sending more goods to Middle East (West Asia). We have started exploring a bigger market in Africa. We are supplying in a big way to Latin/ South American countries…So we are changing our direction of exports, and we don’t want to be dependent on the US,” Singhania noted.

He said as South America and West Asia have emerged as big markets and JK Tyre is looking at expansions in Europe because there is enough ‘headroom’ for Indian players to operate there.

JK Tyre has a total export of 14-15 per cent from its overall turnover right now, and is aiming to achieve around 20 per cent in the next couple of years, Singhania said, adding that the recent announcement of ₹5,000 crore is part of that expansion plan.

Last month, the company announced investment of ₹5,000 crore over the next five-six years to expand its production capacity, including some dedicated lines for export markets, for both car as well as truck tyres.

Published on December 21, 2025