New Delhi: Apollo Tyres Ltd said on Thursday it will invest about $1.5 million annually to boost exports to the Middle East.
The company plans to attain a “high single digit, if not 10%,” market share in the region in the next 5 years, Satish Sharma, chief of its India operations, said in a statement.
Apollo Tyres expects a 3-fold rise in business volume in the Middle East in the next three years, the company said.
The company’s Middle East venture, which currently accounts for about 30% of its export revenue, is headquartered in Dubai.
