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Automotive Tyre Manufacturers Association (ATMA) has said the Indian tyre industry will be able to scale a turnover of Rs 1 lakh crore in the next three years from Rs 75,000 crore currently on the back of new capacities available. Further, the industry has completed investment of Rs 35,000 crore in the last three years in new capacity creation and debottlenecking.

It stated demand is expected to grow stronger in view of an uptick in economic activities and the big push envisaged for infrastructure growth. Although the external environment continues to be challenging, it said, there are several tailwinds to tyre sector's growth domestically.

ATMA Chairman Satish Sharma that the investments that have been undertaken in a challenging time period, span across all the key tyre segments with major beneficiary being truck and bus radials (TBR) and passenger car radials (PCR) manufacturing.