Balkrishna Industries, also known as BKT, announced its entry into the two-wheeler tire market in India at a recent press conference. In a ceremony attended by Bollywood actor and BKT’s brand ambassador Sunny Deol, the company announced its foray into the new category and showcased its two new product offerings in this segment.
The company aims to make significant headway in rural transportation through the rapid proliferation of high quality two-wheeler tires across the remote villages and areas in India. The entry of the brand in this category has been aimed to provide continuous business opportunities to existing BKT dealers on a round-the-year basis. Foraying into a massive market such as the two-wheeler tire segment would enhance BKT’s visibility in rural markets across India.
Two flagship pattern types -BK Pilot and BK Raftar, were launched during the event. While the former are front tires said to be equipped with features such as directional grooves for better steering, wide shoulders to firm on-road contact and high-performance, the latter are rear tires that are said to combine aggressive design with rigid looks. Made of a high-performance compound, the BK Raftar is said to provide wet grip on the road.
Commenting on the occasion, Rajiv Poddar, Joint Managing Director, BKT Tires, said, “The two-wheeler tire industry has reported a compounded annual growth rate of 8.5%. Considering the tremendous potential of the market and its reach in rural India, we plan to introduce our flagship tires at sizes that permeate more than 70% of the total market scope. We also plan to introduce tires in other sizes to provide complete services to our buyers and gather at least a 10% market share of the Indian agricultural transportation market within the next few years.”