A turnover of Rs 53,000 crore per annum and more than 50 manufacturing factories are enough to suggest the growth of Indian tyre industry not only in the country, but on a global level as well. Apart from this, the heavy engineering and infrastructure industries have also been doing well in the last few years.
It is hard to believe that only a decade ago, India was hugely dependent on foreign brands to meet the requirement. But credit must be given to the visionary leaders like Pawan Kumar Ruia, the MD of Ruia Group, for delving deep into these industries and changing the landscape of the same within a decade.
Leading one of the fastest growing multinational industrial conglomerates of India, he is well-known for using special management techniques to change the fortunes of several companies. Famously known as the turnaround tycoon, Pawan Kumar Ruia is the name behind the dramatic rise of some of the biggest names in the market, including Jessop and Co, Dunlop India Ltd and Falcon tyres.
Ruia acquired the Jessop & Co in 2003. Using innovative expansion methods and management practices, he turned around the engineering company’s standing in the market in no time.Taking over brands, such as Dunlop India Ltd and Falcon tyre since 2005, at a time when they were struggling to survive, he batted for their upheaval. Achieving numerous feats, he took these companies to another level. Falcon tyres soon emerged as one of the few companies in the tyre industry to thrive in the midst of a crippling downturn. It has been providing products to multiple names, including Hero Moto Corp, Bajaj Auto, Royal Enfield, and more.
He also led the charge with Dunlop India Ltd and wiped out all the losses incurred by the company. The company produced in the segment of tyres for commercial trucks Buses and OTR.
Leading a workforce of more than 9,000 people, PK Ruia has made a huge mark in this industry. Aided by his efforts, India has got international recognition and brought tremendous transformation in the tyre market of the country. The tyres produced by these two companies have great acceptance in the Indian market. The reputation of the group has soared faster and the growth projections of the group are extremely bright.
Ruia aims to take on board the best technology platforms and integrate them into their overall business perspective. In the process, he has benefited the fellow countrymen by not only providing the best products, but generating employment opportunities as well.
Ruia Group, Pawan Kumar Ruia has already expanded manufacturing operations to different parts of India, and hopes to add some of the fast-growing countries to that list in years to come.