New Delhi, Aug 30 (IANS) India’s tyre exports grew 17 per cent to Rs 6,219 crore in the April-June quarter, according to the Automotive Tyre Manufacturers Association (ATMA).
Tyre exports had declined by 14 per cent in the same quarter last year due to low demand in the international market.
Automotive Tyre Manufacturers Association (ATMA) Chairman Arnab Banerjee said that Indian tyre exporters have been successful in increasing exports due to research and development, advanced technology products and competitive pricing.
He further said that the increase in tyre exports shows the integration of the Indian tyre industry with the global supply chain.
In the first quarter of FY 2024-25, the highest export destinations by Indian tyre manufacturers were to the US, which had a share of 17 per cent. Apart from this, other major export destinations include Brazil, Germany, France and Italy.
Tyres manufactured in India are exported to more than 170 countries.
Passenger car radial (PCR) tyres had the largest share in tyre exports in the first quarter of FY 2024-25. This was followed by tyres used in motorcycles and agricultural machinery.
Banerjee further said that the biggest risk for Indian tyre manufacturers is the global turmoil and rising tensions in West Asia.
He further said that the tyre industry is committed to face the upcoming challenges and produce good quality tyres. Apart from this, eco-friendly and fuel saving tyres remain popular among global customers.
–IANS
ABS/GKT
