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Balkrishna Industries: A long-term bet after the recent correction

  7
 May 30, 2024

Kolkata: Bharatiya Janata Party (BJP) MP and Standing Committee Chairman Chandan Mitra told a press conference on Monday that Dunlop India can no longer be in power.

“If it had happened earlier, this would have been a proper case of acquisition. These machines are now useless. The investment required to run them is risky for the state and even the central government,” Mitra quelled speculation last week. The central government may take over the company.

Mitra said the 31-member parliamentary committee basically tried to study the potential and situation of the rubber and tire industry. For this purpose, the committee visited Kolkata case and toured the Indian rubber and tire industry. Dunlop India factory is located in Hooghly district.

During the visit, the committee held discussions with the company management and trade unions. The management, including the plant’s CFO, attended the meeting, but Chairman Pawan Ruia was not present. “We were expecting him (Lua) to be there but he was not. We will try to meet him,” Mitra said.” .

“We believe the management does not want to run the company. They have asked for Rs 57.4.4 crore to start operations at Sahaganj. 57.4.4 About Rs 25 crore crore crore will be used to set up an independent power plant to make the sector profitable. It will be used. Mithra said.

Mitra said that the committee cannot make policy but if possible it will come up with five to six options in its report to revive Dunlop. You can also consider utilizing the remaining land for food processing units or even an IT park,” he said. The committee members will discuss the issue before preparing the report on Dunlop India.”

Mitra’s interest in the Dunlop India Sahaganj plant is understandable as he contested the 2014 Bharatiya Janata Party (BJP) candidate Year 5 monthly Lok Sabha elections. A journalist by profession, Mitra was thoroughly defeated by Trinamool admission Congress candidate Ratna Dey Nag. It was therefore also in his interest to revive the Sahaganj plant in the hope that he would win the polls the next time he was needed. But two things stand in the way of this process. First, the Trinamool state will have a very strong presence in the region. Secondly, the unfortunate reality of Dunlop is so grave that turning it around at this stage will not be easy, or even possible, with an on-site inspection. At the plant, Mitra himself seems to have been convinced. Moreover, the Congress Standing Committee has been asked to look into the domestic rubber and tire industry.

The committee is scheduled to visit Bangladesh, Tripura, Kerala and Tamil Nadu in January and February and prepare a report on the industry. The committee will also make recommendations to increase production in the rubber and tire industry.

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