Posted: August 24, 2006, 9 a.m., EST

AKRON, OH -- Goodyear Tire & Rubber Co.’s India unit plans to invest $11 million in its retail network, according to domain-b.com, an online business magazine based in India.

The tiremaker will establish 50 branded stores by the end of this year and “at least 250 more” by the end of 2008, the report said.

India’s passenger radial tire market is estimated to grow at 15 percent per year, with tubeless radials growing at 30 percent annually. "A number of car manufacturers have already switched to tubeless radials as original fitment," said Antonio Capellini, managing director for Goodyear India Ltd., in a statement.

There are nearly 9,300 tire retailers in India, according to Goodyear estimates.