The ban on arbitrary import of tyres!
India's tyre exports grew 50 per cent to an all-time high of Rs 21,178 crore in FY 2021-22, registering a strong growth. This has been revealed in the data released by the Ministry of Commerce.
Satish Sharma, Chairman, Automotive Tyre Manufacturers Association (ATMA) said, “In the last two financial years, international business has been affected due to the covid epidemic, despite this, tyre exports from india have grown by 70 percent. This performance on the export front is new.
India's global image as a trusted supplier of products has also been strengthened.
The ban on arbitrary import of tyres has given the industry an opportunity to expand and simultaneously increase production. and become a part of the global supply chain.
Tyres in india are exported to more than 170 countries. The US continues to be the largest buyer of indian tyres, with a 19 per cent stake. The tyre industry has the potential to double the total exports in the next three-four years.