Getting a Global Grip
Forbes India|October 14, 2016

Despite initial missteps in its pursuit of international stature, Apollo Tyres is still in the game. Along the way, it has not lost sight of the Indian market.

Samar Srivastava
Getting a Global Grip

In 2005, the Onkar Kanwar-led Apollo Tyres was at a crossroads. The tyre manufacturer had just pulled out of its two year joint venture with French peer Michelin. The partnership that was forged to make radial tyres for trucks and buses never took off because the Indian market was not adopting radial tyres at the projected rate. Hence, for the first time in its 29-year history, Apollo Tyres was without a partner and, more ominously, without a technological tie-up.

Kanwar’s younger son Neeraj, who took over the day-to-day operations of the Gurugram-based company from his father in 2002, knew it was time to sharpen its focus. The junior Kanwar decided to take his 18-member management team to Wildflower Hall in Mashobra near Shimla for a strategy session chaired by the Boston Consulting Group. Three themes emerged at the meeting. “We had to de-risk our business from the Indian market by going global, become self-reliant in technology and also train our personnel,” recalls Neeraj, 45, who is the managing director.

Measured against these objectives, Apollo Tyres’ journey is still a work in progress. Neeraj has tried his hand, and in a manner of speaking, burnt it, at taking the company global. (The company sold its first acquisition and the second is an unfinished project. A third deal fell through.)

Apollo Tyres, and the tyre industry in general, has also had a stroke of bad luck in recent times. Cheap Chinese imports and global woes have impacted topline. For the year ended March 2016, revenues were down to Rs 11,793 crore from Rs 12,815 crore in the previous year as the rupee appreciated by 6.25 percent against the euro in the period.

Denne historien er fra October 14, 2016-utgaven av Forbes India.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra October 14, 2016-utgaven av Forbes India.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA FORBES INDIASe alt
Home-Cooked Meal Is Now Greatly Valued
Forbes India

Home-Cooked Meal Is Now Greatly Valued

The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients

time-read
8 mins  |
May 21, 2021
Paytm 3.0 - Reaching Near Breakeven In Two Years
Forbes India

Paytm 3.0 - Reaching Near Breakeven In Two Years

As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years

time-read
10+ mins  |
June 4, 2021
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Forbes India

THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN

Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse

time-read
8 mins  |
May 21, 2021
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Forbes India

LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE

Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment

time-read
7 mins  |
May 21, 2021
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Forbes India

PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST

Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground

time-read
9 mins  |
May 21, 2021
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
Forbes India

INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR

While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term

time-read
8 mins  |
May 21, 2021
DIGITALISATION WILL HELP IN VALUE CREATION
Forbes India

DIGITALISATION WILL HELP IN VALUE CREATION

As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India

time-read
8 mins  |
May 21, 2021
Industry 4.0: Climate Revolution?
Forbes India

Industry 4.0: Climate Revolution?

Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent

time-read
10 mins  |
June 4, 2021
EV Dream Still Miles Away
Forbes India

EV Dream Still Miles Away

Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure

time-read
6 mins  |
June 4, 2021
Living Waters
Forbes India

Living Waters

A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet

time-read
4 mins  |
June 4, 2021