AdvertisementAdvertisementBusiness22 Aug 2025 08:52PM (Updated: 22 Aug 2025 08:54PM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST India's CEAT said on Friday it will increase tyremaking capacity at its export-focused Sri Lankan factories, at a time when New Delhi faces a sharply higher U.S. tariff rate compared with Colombo.CEAT's local unit in the island nation signed a pact with the Board of Investment of Sri Lanka to invest $171 million in focusing on export-led production of tyres and construction equipment tracks, the company said.The tyremaker owns two factories in Sri Lanka - at Midigama and Kotugoda locations - following its $225 million Camso deal with French peer Michelin last year.About 90 per cent of Camso's revenue comes from North America and Europe, brokerage Emkay Research had said in a December note. CEAT's move comes as exports from India face higher U.S. tariffs than those from Sri Lanka.Earlier this month, U.S. President Donald Trump doubled tariffs on Indian goods to 50 per cent, among the highest levied on any U.S. trading partner. In comparison, Sri Lankan products have been hit with a 20 per cent levy.Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST