Tyre exports from India increases by 17% to Rs 6,219 crore in Q1FY25: ATMA
Industry body Automotive Tyre Manufacturers Association (ATMA) has said that tyre exports from India grew 17 per cent year-on-year to reach Rs 6,219 crore in the first quarter of the current fiscal (Q1FY25) with the US emerging as the biggest market. ATMA said citing data just released by the Ministry of Commerce 'Tyre exports from India recouped in the first quarter of FY25, increasing by 17 per cent YoY. Tyre exports had declined by 14 per cent in the corresponding quarter in the previous year'.
It stated during Q1FY25, the US was the largest export destination for Indian manufactured tyres accounting for 17 per cent share. Other large export destinations included Brazil, Germany, France and Italy. Indian manufactured tyres are being exported to over 170 countries in the world.
ATMA Chairman Arnab Banerjee said sustained focus on R&D and development of advanced technology products aided by competitive pricing and branding efforts helped Indian tyre manufacturers drive growth in exports despite a challenging environment. He said improving demand prospects in key export destinations and expected monetary easing also helped growth.
He added the rise in exports is a testament to the Indian tyre industry's enhanced integration with global supply chains. He stated ‘The globally aligned regulatory environment in the country for manufacturing of tyres also augurs well for increasing the addressable market for Indian manufactured tyres.’
