According to Automotive Tyre Manufacturers’ Association (ATMA), Indian tyre exports to overseas markets are expected to touch the Rs 12,000 crores mark this fiscal, as reported by The Hindu BusinessLine (BL). ATMA, the industry body, also stated that this year’s performance would be a continuation of the robust growth recorded in the last three years.
“During the current year also, tyre exports have continued the momentum of the previous two years. The industry is expected to end the current fiscal with an export turnover of Rs 12,000 crore, as the order book position is healthy,” Anant Goenka, Chairman, ATMA, said.
Though India exports its tyre products to over 100 countries, the US (United States) continues to the largest export market for Indian tyre manufacturers, with a 13 per cent share. Germany, which is the second biggest market, occupies a 7 per cent share.
Commenting on the reasons for the large demand for Indian-made tyres in foreign markets, Mr Goeka, noted, “India has some of the finest radial tyre manufacturing facilities. International vehicle majors (OEMs) have been rolling out vehicles on India-made tyres. All these have had a rub-off on tyre exports too. Cost efficiency and customisation have also helped in making exports competitive.”
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