Mahadevappa urges JK Group to invest more in Mysuru

 Minister for Public Works H C Mahadevappa on Monday urged JK Group to set up their plants in the district as the region has a good climate, skilled manpower in abundance and quality infrastructure.

Addressing the gathering as an event to mark unveiling of 10 millionth truck radial tyre from the company’s Vikrant plant at Mysuru, Mahadevappa, who is also the district in-charge minister, said, “JK Group is a major player in industrial rubber products, cement, paper, agri seeds, defence, clinical research and other areas. I urge the company to set up their plants in future in Mysuru.”

JK Tyre revives Vikrant

Vikrant Tyres, set up as a government enterprise in 1979, was the brainchild of former chief minister D Devaraj Urs.

Mahadevappa recalled, “Vikrant Tyres was on the verge of becoming a sick company in 1996 and the future of over 2,000 employees was in limbo. However, the government of Karnataka took the initiative of calling global tender and inducted JK Tyre and Industries as the strategic alliance partner, and handed over the management to the company in May 1997. The company wiped off the accumulated losses in the first year and scripted a turnaround.”

Highest investment

 Minister for Large and Medium Scale Industries and Infrastructure Development R V Deshpande on Monday said, the investment of Rs 1,200 crore by tyre major JK Tyre and Industries, part of Rs 28,000-crore JK Organisation, is the highest investment by a domestic company in Karnataka till date.

JK Tyre took over the state-owned Vikrant plant and turned it around into a state-of-the-art plant with an investment of over Rs 1,200 crore. Today, JK Tyre contributes significantly to the local economy by providing direct and indirect employment to over 13,000 people.

"This is a historic day for the industrialisation of Karnataka, which is among the top most states in the country in attracting investments. India's future will be made in Karnataka," he said dedicating JK Tyres' 10 millionth tyre to the nation.

Deshpande said he is due to meet Union Commerce Minister Nirmala Sitharaman in New Delhi on Friday to take up the issue of dumping of cheaper Chinese made tyres in India, which is affecting the competitiveness of local industry.

"With 12 manufacturing plants manufacturing 3.5 million truck and bus radials per annum, JK Tyre is the undisputed leader in this vertical," JK Tyre Chairman Raghupati Singhania told the gathering at the event that witnessed a robot rolling out the 10 millionth tyre.