India’s mining sector is entering a major phase of capacity expansion, driven by rising steel demand, higher coal and iron ore production, and efforts to strengthen domestic supplies of critical minerals.
The growing focus on minerals such as copper, lithium, cobalt and rare earth elements is also encouraging investment across the mining ecosystem. Government initiatives, including the National Critical Mineral Mission and the auction of mineral blocks under amendments to the Mines and Minerals (Development and Regulation) Act, are supporting efforts to expand domestic mining activity.
Against this backdrop, Ascenso Tyres is committing US$100 million to build large-scale mining tyre manufacturing capability in India and accelerate its push into the radial Off-The-Road (OTR) tyre segment.
The investment forms part of the broader shift towards strengthening India’s domestic mining and industrial ecosystem. It also aligns with the Atmanirbhar Bharat agenda, which places greater emphasis on developing local manufacturing, processing and equipment capabilities while reducing dependence on imports. Ascenso’s planned investment is expected to strengthen India’s supply base for specialised mining tyres as mining operations become more intensive and demand for high-performance OTR products grows.
Mining operators across India’s coal, iron ore, bauxite and limestone belts — from Odisha and Jharkhand to Chhattisgarh, Karnataka, Madhya Pradesh and Rajasthan — are under increasing pressure to raise fleet productivity, extend equipment uptime and lower operating costs, even as mines grow larger, more mechanised and increasingly automated. Tyres, once viewed as a routine consumable, are increasingly recognised as mission critical performance assets that directly influence machine productivity, fuel efficiency, safety and total cost of ownership.
Recognising this shift, and the opportunity it presents for domestic manufacturing, Ascenso – one of India’s fastest growing Off Highway Tyre brands – today announced a significant strategic expansion into the mining segment through its All Steel Radial Off The Road (ROTR) portfolio, designed, engineered and manufactured in India. The move addresses a gap that has long existed in the Indian market: large format mining tyres of this scale have historically been sourced almost entirely from overseas manufacturers, with very few companies anywhere in the world, and virtually none in India, designing and building giant OTR tyres domestically. The announcement marks a defining milestone in Ascenso’s evolution, from a globally recognised Agriculture, Forestry and Construction (AFC) tyre specialist into a technology driven performance brand for India’s, and the world’s, most demanding earthmoving and mining applications.
A Long Term, Make in India Commitment to Mining
Supporting this expansion is a focused investment of US$100 million, dedicated exclusively to building world class All Steel Radial (ASR) tyre manufacturing capability at Ascenso’s production facility in India. The investment spans advanced manufacturing infrastructure, specialised radial production technology, product development and testing capability, engineering talent, giant tyre manufacturing infrastructure and future capacity expansion – all built and staffed within the country.
Beginning with 25 inch tyres, Ascenso’s mining portfolio has rapidly expanded to include 49 inch giant mining tyres, with even larger sizes already under development, enabling the company to serve applications ranging from construction and quarrying to large open pit mining operations. The company notes that this makes it only the second Indian tyre brand, and the fifth globally outside China, to venture into giant tyre manufacturing with its own in house design and development capability – a distinction that reflects the growing depth of engineering capability being built within India, in a segment long dominated by global majors and Chinese manufacturers. Ascenso’s long term vision is to build one of the industry’s most comprehensive radial mining tyre portfolios, engineered in India and supported by continuous innovation.
Performance Priced for Indian Mining Economics
Ascenso has built its Radial OTR strategy around a single philosophy: premium performance at a competitive price. Every Radial OTR tyre is benchmarked against established global premium brands during design, engineering and validation. Rather than competing purely on cost, Ascenso is positioning itself to deliver performance approaching leading global brands while offering the value proposition that Indian mining operators, who weigh productivity and cost efficiency in equal measure, are looking for. The company believes this positioning, combined with its performance credentials in the 35 inch and above range, gives it a genuine point of entry into a segment in India that has so far been served almost entirely by imported tyres.
Engineering With Customers, on the Ground in India
Mining environments differ dramatically across regions, equipment types and operating conditions, and no laboratory can fully replicate real world mining operations. Ascenso is therefore investing heavily in customer facing engineering capability, deploying more than 15 dedicated Field Application Engineers across key mining markets globally, including India’s major mining belts. These specialists will work directly alongside mine operators to monitor tyre performance, analyse wear behaviour, understand local operating conditions and feed continuous data back into Ascenso’s global R&D organisation. This customer integrated development model is designed to speed up product optimisation while ensuring future generations of Ascenso mining tyres continue to evolve based on real operating conditions in India and other markets.
A Technology Roadmap for India and the World
Ascenso’s Radial OTR journey began in late 2023, after extensive engagement with customers highlighted a growing need for high performance radial mining tyres across multiple geographies, including India. The company assembled a specialised team of experienced OTR engineers, application specialists and dedicated R&D professionals to build a completely new technology platform. Within a short period, Ascenso has commercialised multiple Radial OTR products and laid out an aggressive roadmap extending into giant mining tyres, specialised tread patterns and larger wheel diameters through 2027 and 2028, spanning mining, earthmoving and loader applications.
A Performance-Led Brand Built in India
Ascenso Tyres is positioning itself as a performance-led brand, aiming to compete with established global tyre manufacturers rather than focusing solely on price. The company said its mining tyres are being developed to deliver performance comparable with leading international brands while maintaining a competitive price point.
The strategy is intended to provide Indian mining operators with a domestically manufactured alternative to imported tyres, without compromising on performance.
“India’s mining sector is scaling up like never before, and the equipment that powers it needs tyres that can match that ambition. Building this capability in India, for India as well as the rest of the world, has been central to our thinking from the start,” said Yogesh Mahansaria, Managing Director, Ascenso Tyres.
He added that the company’s US$100 million investment is focused on developing world-class radial mining tyre engineering and manufacturing capabilities in India, rather than simply increasing production capacity. “We want Indian mining operators to have access to global standard performance without having to look overseas for it, and we intend to compete on that performance, not on price alone,” Mahansaria said.
Strengthening Field Support in Mining Regions
Ascenso said its experience in agriculture, forestry and construction tyres over the past four years has helped shape its approach to the mining segment, with greater emphasis on understanding customer requirements and operating conditions on the ground.
The company plans to deploy field application engineers across key mining regions in India, including the coal belts of Jharkhand and Odisha and iron ore-producing regions of Chhattisgarh and Karnataka.
Dhaval Nanavati, Chief Executive Officer, Ascenso Tyres, said the company’s ability to develop 49-inch giant mining tyres in India represents a significant milestone for both Ascenso and the country’s manufacturing capabilities. He added that the company views the development as the beginning of a long-term commitment to mining customers in India and international markets.
Radial OTR Range to Expand Through 2028
Ascenso has also outlined a multi-year roadmap for its radial OTR (R OTR) tyre range, with additional sizes and tread patterns planned through 2027 and 2028.
The upcoming products will target a range of applications across mining, earthmoving and wheel loaders.
According to Ascenso, the planned expansion reflects its long-term focus on the mining tyre market in India and overseas, supporting the company’s broader ‘Never Stop Rising’ philosophy.
