Export of tyres form India expected to rise by 15% in current fiscal: ATMA`s Chairman
Automotive Tyre Manufacturers' Association (ATMA) -- Chairman Satish Sharma has said export of tyres from India is expected to rise by 15 per cent in the ongoing fiscal (FY23). He said fast integration with global supply chains helped by the globally aligned regulatory environment in the country has led to an increase in the addressable market for Indian manufactured tyres.
He asserted despite the challenges to the global economy due to recessionary conditions, rising interest rates and political turmoil, which has led to slowing of external demand, Indian tyre exports have held on their own.
Further, he said auto OEMs (Original Equipment Manufacturers) are expecting tyres makers to contribute in a very significant way to meet regulatory demands over noise front and rolling resistance among others and it is imperative for the tyre industry's supply chain partners to enable the industry to meet these requirements. He added Tyre Industry in India that has completed an investment of over Rs 35,000 crore in new capacity creation and debottlenecking in the last three years is poised to meet the demands of a growing economy.
