The company’s growth strategy aligns with India’s mining sector entering its most consequential phase in decades.
Ascenso, one of India’s fastest‑growing off‑highway tyre brands, has announced a $100 million investment to develop world‑class all‑steel radial (ASR) tyre manufacturing capability in the country at the ongoing Bauma Conexpo India 2026 construction equipment trade fair in Great Noida. The investment covers advanced manufacturing infrastructure, specialised radial production technology, product development and testing, engineering talent, giant tyre manufacturing infrastructure and future capacity expansion.
The move marks Ascenso’s expansion into the mining segment through its all‑steel radial off‑the‑road (OTR) portfolio. India has historically sourced large‑format mining tyres almost entirely from overseas manufacturers, and the company’s initiative aims to reduce import dependence. The announcement represents a milestone in Ascenso’s evolution from a globally recognised agriculture, forestry and construction (AFC) tyre specialist into a technology‑driven performance brand for demanding earthmoving and mining applications.
Yogesh Mahansaria, Managing Director, Ascenso Tyres, said, “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… 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.”
Owned and promoted by Mahansaira Tyres Pvt. Ltd., 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 OTR engineers, application specialists and R&D professionals to build a 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 2027-28, spanning mining, earthmoving and loader applications.
Mining Expansion
The company’s growth strategy is aligned with India’s mining industry entering one of its most consequential phases in decades. Rising coal and iron ore output, a fast‑expanding steel sector and a national push to secure critical minerals have put the spotlight firmly on mining.
Beginning with 25‑inch tyres, Ascenso’s mining portfolio has expanded to include 49‑inch giant mining tyres, with larger sizes already under development. This enables the company to serve applications ranging from construction and quarrying to large open‑pit mining operations. Ascenso notes that it is 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. Its 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.
Dhaval Nanavati, CEO, Ascenso Tyres, said, “We are placing field application engineers directly in India’s key mining belts, from the coalfields of Jharkhand and Odisha to the iron ore regions of Chhattisgarh and Karnataka, so that we can respond to real operating conditions as they happen. Reaching 49‑inch giant mining tyres, engineered here in India, is a significant milestone, not just for Ascenso but for what Indian manufacturing is capable of in this space. We see this as the start of a long‑term commitment to mining customers in India and around the world.”
Ascenso is deliberately positioning itself alongside established global performance brands rather than competing purely on price. Its stated intent is to be benchmarked on performance against leading global manufacturers while remaining available at a competitive price point. The company believes this approach gives Indian mining operators a credible, domestically manufactured alternative to imported tyres without compromising on performance.