New Delhi: According to ATMA, tyre exports from India increased by 17 percent year-on-year, reaching Rs 6,219 crore in the first quarter of the current fiscal year. This growth marks a rebound in tyre exports after a 14 percent decline in the same quarter last year, as reported by the Ministry of Commerce.
ATMA Chairman Arnab Banerjee credited Indian tyre manufacturers' focus on R&D, advanced technology, competitive pricing, and branding strategies for the export growth despite a challenging environment. Banerjee also noted that anticipated monetary easing and improved demand in key export markets contributed to the positive performance. He highlighted that the rise in exports reflects India's growing integration into global supply chains.
Banerjee added that the country's harmonized regulatory framework for tyre production will further support market expansion for Indian-made tyres. In Q1FY25, the United States emerged as the top export market for Indian tyres, accounting for a 17 percent share. Other significant markets included Brazil, Germany, France, and Italy, with Indian tyres being exported to over 170 countries worldwide.
The report highlighted that the largest increase in export quantities was seen in motorcycle tyres, which grew by 38 percent, followed by a 31 percent increase in Truck & Bus Radial (TBR) tyres. However, Banerjee warned that Indian tyre exports still face potential risks, including global supply chain disruptions, geopolitical tensions, the West Asia crisis, and rising shipping costs.
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