Wheels India, the leading manufacturers of steel wheels for passenger cars, utility vehicles, trucks, buses, agricultural tractors and construction equipment, will be investing over Rs 70 crore this year with an aim to expand its exports segment.

Managing Director Srivats Ram said that a significant part of the investment would be for expansion of its presence in the exports market. The company has manufacturing plants at Padi, Sriperumbudur, Pune, Rampur, Bawal, and Pantnagar with a combined overall annual capacity of 15 million wheels, he said.

He also said that while over 80 per cent of the company?s business came from domestic market, the company exports wheels for off-road construction equipment and agricultural applications to Japan, Korea, US, Brazil, Belgium, South Africa, China and Indonesia.

Earlier this fiscal, Wheels India entered into a technical agreement with Topy Industries, a leading Japanese steel wheel manufacturer, towards process, design and development of steel passenger car wheels.