Indian Tyre Exports Surge 11.7% in H1 FY 2024-25, Reaching Rs 12,131 Crore

ENA Sectors 2024-11-27 14:50:51 New Delhi, Nov 27 (KNN) Tyre exports from India recorded a robust 11.7 per cent growth in the first half (April-September) of FY 2024-25, touching Rs 12,131 crore in value, according to data released by the Automotive Tyre Manufacturers Association (ATMA), citing the Commerce Ministry. The rise is attributed to increased investments in domestic R&D, enhanced manufacturing capabilities, and favorable global demand. ATMA Chairman Arnab Banerjee highlighted the industry's resilience amid global challenges, stating, The rise in tyre exports, despite a tough external environment, underscores the Indian tyre industry's ability to navigate challenges and carve a niche for itself. Banerjee also noted that Indian tyre manufacturers focus on delivering quality has driven a resurgence in demand after the export slump seen in the same period last year. In volume terms, tyre exports grew by 6 per cent, with motorcycle tyre exports leading the charge at a remarkable 37 per cent increase. Nearly 3.5 million motorcycle tyres were shipped overseas during the period, with Colombia emerging as the largest importer. Passenger Car Radials (PCR) and Truck and Bus Radials (TBR) also posted impressive growth of 18 per cent and 19 per cent respectively. The US retained its position as the largest importer of Indian tyres, accounting for 15 per cent of total export value. Other significant markets included Brazil, Germany, the UAE, France, and Italy, reflecting the global appreciation for the quality and value proposition offered by Indian tyre manufacturers. ATMA credited the growth to anticipated monetary easing and a favorable demand environment, which offset the impact of geopolitical tensions, supply chain disruptions, and rising shipping costs. While these challenges pose risks, Indian manufacturers remain optimistic, backed by their focus on innovation and quality. The surge in exports showcases India's evolving role as a competitive player in the global tyre industry, further bolstering the sectors reputation for resilience and adaptability. (KNN Bureau) 40054 https://knnindia.co.in/news/newsdetails/sectors/indian-tyre-exports-surge-117-in-h1-fy-2024-25-reaching-rs-12131-crore 2024-11-27 14:50:51 knnindia.co.in Indian Tyre Exports Surge 11.7% in H1 FY 2024-25, Reaching Rs 12,131 Crore