Reports are that the new radial facilities set up by Indian tyre manufacturers are as good as any in the world in terms of technology – hence the demand from countries across the globe
Tyre exports have jumped 50% year-on-year (YoY) in value terms to INR 21,178 crore in FY22, according to data released by the Ministry of Commerce, Government of India. The jump is largely due to rising overseas demand. In the last financial year, tyre exports were at INR 14, 000 crore, according to the Automotive Tyre Manufacturers Association (ATMA). Reports are that the new radial facilities set up by Indian tyre manufacturers are as good as any in the world in terms of technology – hence the demand from countries across the globe.
Tyres made in India are being exported to over 170 countries including to North America and Europe
In fact the rise happened in the last two financial years when international trade was disrupted due to Covid pandemic. “The export performance bears testament to the ability of the Indian tyre industry to meet the rising expectations from India in the new geo-political scenario despite the odds of challenging times,” Satish Sharma, Chairman ATMA, was quoted by ET.
While Farm/ Agri and OTR/ Industrial tyres have been the largest exported tyre categories from the country traditionally, Truck & Bus Radial (TBR) tyre exports have risen and have grown nearly 2.5 times in the past three years from INR 1,263 crore in FY19 to INR 3, 095 crore in FY22.
Tyres made in India are being exported to over 170 countries including to North America and Europe. In fact, the US continues to be the largest market for Indian tyres accounting for 19% of total tyres exported from the country during the year. The Top 5 markets for Indian tyres in FY22 were US, Germany, Brazil, UK and France. ET pointed out that the Indian tyre industry had the potential to double exports in the next 3-4 years. The growth in exports will benefit the entire rubber value chain including a million rubber growers who are largely dependent on the growth of tyre industry, ATMA said.
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