India's tire market is expected to expand at the fastest rate, says Bridgestone

Bridgestone said the tire market in India will develop by around 5% this year as it anticipates that the nation will emerge as the fastest-developing business sector globally.

The Japanese tire major, which is investing almost $300 million in India, plans to increase tire production to 40,000 units per day over the next several years from the current 30,000 units per day.

"India is the quickest-developing business portfolio in our worldwide business. It has key incentives for us," Bridgestone India MD Hiroshi Yoshizane said.