Murugappa Group firm Tube Investments of India is expecting growth in the domestic market for automotive industry, which would help grow its automotive chains business during the current fiscal, according to the company’s senior management officials. It manufactures automotive components, apart from its bicycles manufacturing and financial services businesses.
Commenting on the automotive and industrial scenario for 2017-18, he said, “We are seeing the start of the year as pretty good for automotives. We will look at the index of industrial production or the GDP. So, I think the general mood is good. We definitely have seen automotive orders. We have seen a surge in how we use capacity and if it continues like this the current year will be very good.”