Italian tyre maker Pirelli and Mumbai-based Balkrishna Industries (BKT) on Thursday said they have entered into an agreement tap the growing Indian passenger car tyre market, where the Indian company will manufacture up to 8 lakh Pirelli-branded tyres by 2030, in one of its plants.

The partnership "foresees a first phase based on an off-take agreement, through which BKT will produce, in one of its own newly constructed plants equipped with the most advanced technology, up to 8,00,000 Pirelli-branded tyres by 2030 with Pirelli's specific technological and quality standards," the companies said in a joint statement.