Daijiworld Media Network - Mumbai
Mumbai, Oct 22: Italian tyre manufacturer Pirelli and India’s Balkrishna Industries Ltd (BKT) have entered into a strategic 50:50 partnership to tap the growing passenger car tyre market in India, with plans to manufacture up to 8 lakh Pirelli-branded tyres by 2030.
Under the initial phase of the agreement, Mumbai-based BKT, a leading manufacturer of off-highway tyres, will produce the tyres at one of its newly constructed plants. Manufacturing will follow Pirelli’s specific technological and quality standards.
The companies said in a joint statement on Thursday that the arrangement would initially be based on an off-take agreement, under which BKT would manufacture up to 800,000 Pirelli-branded tyres by 2030 using advanced technology.
The agreement also provides for a potential second phase, subject to certain conditions, involving the establishment of a dedicated 50:50 joint venture and a new manufacturing facility for high-value passenger car tyres under both the Pirelli and BKT brands. The proposed plant would cater to the Indian market as well as international markets.
The partnership comes as India’s automotive market continues to expand. Car registrations are projected to grow by 5–7 per cent annually between 2025 and 2030, while the premium car tyre segment is expected to expand nearly fivefold, according to the joint statement.
For Pirelli, which currently has only a commercial presence in India, the agreement marks a step towards strengthening its position in the country’s high-value tyre segment. BKT, traditionally focused on off-highway tyres, aims to expand into the passenger car tyre market and explore opportunities in India and overseas.
Pirelli Executive Chairman Marco Tronchetti Provera said India was playing an increasingly important role in the global automotive industry, driven by market growth, evolving mobility and the strengthening of its industrial and technological capabilities.
He said the partnership with BKT, which has a strong presence in India and significant international reach, would help Pirelli strengthen its position in a market with considerable growth potential.
BKT Chairman and Managing Director Arvind Poddar said the partnership combined the complementary strengths of both companies to tap opportunities in a growing market and create value for both businesses.
Founded in 1872, Pirelli is among the world’s major tyre manufacturers, focusing on consumer tyres for cars, motorcycles and bicycles. The company operates 18 manufacturing plants across 12 countries and reported revenue of 6.8 billion euros in 2025.