Indian tyre industry exports rise in FY22 by 50% at Rs 21K cr.

According to ATMA (Automotive Tyre Manufacturers Association), the financial year of 2021 reported tyre exports at Rs 14K cr.

In the light of rising demand from the global tyre market, the Indian tyre industry managed to increase its tyre exports in financial year 2022 by 50% YoY pegged at a value of Rs. 21,178 crores, according to a statistics report released by the commerce ministry of the Government of India.

As per a statement released by ATMA (Automotive Tyre Manufacturers Association), the financial year of 2021 reported tyre exports at Rs. 14,000 crores. The association further stated that in the previous two fiscal years, the percentage in export of tyres from India increased by 70% at a time when the overseas market and overall global trade flow was hit by the turbulence of the coronavirus pandemic.

According to Mr Satish Sharma, the Chairman of ATMA, “The tyre export achievement is testimony to the capability of our domestic tyre industry to fulfill the growing demand and expectations from our country in the latest geo-political framework in spite of the challenging and odd times.”

Mr Sharma added, “The tyre sector is enormously assisted by the Atma Nirbhar programme of the Government of India focused at developing a valid atmosphere for the rise of the industry. The restrictions on false and unmethodical import of tyres has enabled the tyre industry to increase its scale and size of manufacturing and in line with international supply chains.”