JK Tyre & Industries Limited has secured a $100 million loan from the World Bank Group (WBG). The loan includes a $100 million sustainable development-linked loan from the International Finance Corporation (IFC), a member of the World Bank Group. The loan comprises $30 million for JK Tyre and up to $70 million for its subsidiary Cavendish Industries Limited (CIL).
The funds will be used to expand tyre manufacturing capacity at two key plants in India. JK Tyre’s Banmore facility in Madhya Pradesh will focus on producing Passenger Car Radial (PCR) tyres, while CIL’s Laksar plant in Uttarakhand will manufacture Truck and Bus Radial (TBR) tyres. The initiative aims to promote energy-efficient production, strengthen local supply chains, and create new job opportunities.
Dr. Raghupati Singhania, Chairman and Managing Director of JK Tyre & Industries, stated, “This loan reinforces our partnership with IFC and aligns with our growth objectives. It underscores our commitment to sustainable development and supports our strategy to expand in key product segments.”
Riccardo Puliti, IFC’s Regional Vice President for Asia and the Pacific, noted that this marks the first sustainability-linked loan in India’s tyre industry. “This sets a new benchmark for sustainable manufacturing in the sector and beyond,” he added.
JK Tyre & Industries, part of the JK Organisation, ranks among the top 20 tyre manufacturers globally. The company operates 12 sustainable manufacturing facilities—nine in India and three in Mexico—producing approximately 32 million tyres annually. With a presence in 105 countries and a network of over 180 distributors, JK Tyre has established itself as a major player in the global tyre industry.
The company’s extensive distribution network includes more than 6,000 dealers and specialized outlets such as Steel Wheels, Truck Wheels, and Xpress Wheels. Through this robust network, JK Tyre exports to nearly 100 countries, supported by over 230 distributors worldwide.
This latest financing from IFC highlights JK Tyre’s commitment to sustainable growth and innovation in the tyre manufacturing sector.
