India's tyre exports grew by 11.7% in value to Rs 12,131 crore during the first half of the fiscal year 2024-25 (April-September), according to the Automotive Tyre Manufacturers Association (ATMA), citing data from the Ministry of Commerce. This growth is attributed to investments in research and development, manufacturing capabilities, and favorable global demand, coupled with expected monetary easing. Despite challenges, the industry demonstrated resilience, capitalizing on global demand for quality Indian tyres.
The Automotive Tyre Manufacturers Association (ATMA) reported this 11.7% increase, representing a value of Rs 12,131 crore, based on official government data. This performance follows a period of de-growth in the first half of the previous fiscal year.
Arnab Banerjee, Chairman, ATMA said, “The rise in tyre exports in the first half of the year, despite a tough external environment, is a testament to the resilience of the Indian Tyre Industry to ride through a challenging environment and carve a niche for itself."
The growth is linked to ongoing investments in research and development and manufacturing within India. Favorable demand in international markets and the anticipation of monetary easing further supported this positive trend.
"The compelling value proposition offered by Indian tyre manufacturers on quality is being appreciated globally leading to a resurgence in demand after de-growth witnessed in export in the first half of the previous year,” Banerjee added.
Exports volumes
Export volumes also increased by 6% overall. Motorcycle tyre exports saw a significant rise of 37% during this period, reaching nearly 3.5 million units. Colombia emerged as the leading importer of Indian motorcycle tyres.
Passenger Car Radials (PCR) exports experienced 18% growth, while Truck & Bus Radials (TBR) exports grew by 19% in the first half of the fiscal year.
The United States became the largest importer of Indian tyres overall, accounting for 15% of total tyre export value. Other major importers include Brazil, Germany, the UAE, France, and Italy.
Despite the positive growth, ATMA acknowledges potential challenges. Geopolitical tensions, supply chain disruptions, and increasing shipping costs pose downside risks. However, the association believes Indian tyre manufacturers are well-equipped to manage these challenges due to their emphasis on quality and innovation.
