India's largest tire maker Apollo Tyres announced to enter the Sri Lankan market, and is scheduled for the next fiscal year in Sri Lanka market to achieve sales target of Rs 12 billion (about U.S. $ 108 million).

     Apollo Tyres is the world's 17th largest tire manufacturer, value of $ 2 billion. Sri Lanka tire market takes about 1.3 million per year tires, mainly rely on imports. Local tire manufacturers produce 450,000 tires, about 30% of the market to meet demand.