The cost of tires is increasing due to escalating expenses linked to crude oil, leading JK Tyre to increase their prices by around 2-3%. CEAT and Balkrishna Industries have also followed suit with a price hike, while exporting faces strain due to geopolitical and shipping challenges.

JK Tyre is facing a demand for approximately 69.4 million Indian rupees in CGST due to alleged incorrect Input Tax Credit claims in FY2019-20. The company intends to challenge this order, believing they have a strong case and anticipate no significant financial repercussions.