Apollo’s Kanwar to give report at BRICS summit

During the BRICS summit taking place in Brazil today and tomorrow, Apollo Tyres’ chairman Onkar Kanwar will lead a five-member business delegation and present a report from the BRICS business council to the Brazilian, Russian, Indian, Chinese and South African heads of state. The council has identified five areas where the BRICS countries can explore business opportunities – infrastructure, manufacturing, financial services, energy and green economy and skills development. “Each country can support the other and take part in each other’s respective growth and development programmes,” Kanwar, who is chairman of the BRICS Business Council (India), told Indian news daily the Hindustan Times.

Brazilian publication Eco Ecofinanças added that Kanwar wishes to request that Brazil simplifies the import process and reviews its anti-dumping policy in relation to truck and bus tyres from South Africa, where Apollo operates a factory. In June 2013, Brazil’s government began an investigation into tyres imported from Korea, Thailand, South Africa, Russia and Japan. “We urge the government to make the import process simpler and review the decision on the anti-dumping duty for truck and bus tyres imported from South Africa as this is affecting our business plan,” said Kenwar in an e-mail.