ATMA forecasts 15% increase in tyre exports from India in 2023

Chennai, Mar 15 (KNN) The exports of domestically manufactured tyres grew  by 50 percent last year and it is expected to grow nearly 15 per cent in the ongoing financial year, said Satish Sharma, Chairman, Automotive Tyre Manufacturers’ Association (ATMA).

Addressing the Partners’ Summit 2023 in New Delhi, ATMA chairman pointed out that the consistent support by raw material partners is one of the major reasons for the growth momentum both domestically and in the export markets.

Tyre exports from India went up by 15 percent during the Apr-Dec period of FY23, as per the latest statistics from Ministry of Commerce, government of India. It is estimated that India exported tyres worth Rs 17,816 crore in the Apr-Dec 2022 as against Rs 15,507 crore in the year-ago period.

Sharma further added that automotive world continues to evolve and continues to put more demands on the tyre industry and its supply chain partners. 

India has witnessed compression of the emission norms lifecycle by going straight from BSIV to BSVI. A lot of that responsibility is now falling on the tyre industry.

“OEMs are expecting the tyres to contribute in a very significant way to meet the exceeding demands now being put on them. There are enough regulations happening on the noise front, rolling resistance etc and it is imperative for the tyre industry’s supply chain partners to enable the industry to meet these requirements,” he said.

The event was attended by around 300 senior representatives from tyre industry’s raw material manufacturers including carbon black, reinforcement materials, rubber chemicals and synthetic rubbers among others.  (KNN Bureau)