'GST rate cuts will boost tyre sector growth by 5-6%'

GS ANSHUMAN Singhania, MD & CEO of JK Tyre & Industries expects the tyre industry to grow by 5-6% because of the GST rate cuts, which will come into effect from September 22. GST on tractor tyres and tubes has been reduced from 18% to 5%, while that on pneumatic tyres cut from 28% to 18%.

- SANAL SUDEVAN @Chennai

"GST rate cuts alone would give tyre industry a growth of 5-6%," said Singhania. He was speaking to reporters during an event organised by the company at its Chennai plant. When asked about the impact of US tariff on JK Tyres revenues, he said tariff hike will not affect much of its business, as exports account for 12% of total revenue with US