Tyre industry exports up 12% in send-half of FY24

12 Jun 2024 CW Team

ATMA anticipates robust long-term growth for India's tyre industry due to expanding domestic and international markets, coupled with continued government investments in infrastructure. Banerjee, the newly elected Chairman, aims to double the industry's turnover from Rs 1 trillion over the next decade, noting the widespread demand for Indian tyres in over 170 countries.

Citing data from the Commerce Ministry, Banerjee highlighted a significant recovery in tyre exports during the latter half of FY2023-24, witnessing a 12% increase in value. Despite slowdowns in advanced economies, geopolitical uncertainties, and inflationary pressures, the total tyre exports for the fiscal year matched the previous year's figure of Rs 231.25 billion, totalling Rs 230.73 billion. Notably, tyre exports have nearly doubled in the last four years, surging from Rs 128.44 billion in FY20 to Rs 230.73 billion in FY24.

The United States remains the largest market for Indian tyres, accounting for 18% of total tyre exports in FY24. Banerjee emphasised the potential for further export growth if certain obstacles, particularly those related to accessing Natural Rubber (NR), are addressed. Restrictions on NR imports, including pre-import conditions and shortened export obligation periods, hinder operations and impact export performance. Banerjee suggested restoring the export obligation period from 6 to 18 months to alleviate these challenges.

Furthermore, Banerjee highlighted the industry's substantial investments of around Rs 230 billion in greenfield and brownfield capacities over the past 3-4 years. Despite challenges, the industry remains ahead of the demand curve in meeting both domestic and export requirements.

(Source:Hindu Businessline)

The tyre industry is optimistic about its growth prospects, with exports experiencing a 12% increase in the second half of FY2023-24, according to tyre makers. Arnab Banerjee, Chairman of the Automotive Tyre Manufacturers? Association (ATMA), expressed this sentiment during a press conference held in Kochi, along with Rajiv Budhraja, ATMA's Secretary-General, and R. Roopesh, the convenor of the Supply Chain and Resources Group. ATMA anticipates robust long-term growth for India's tyre industry due to expanding domestic and international markets, coupled with continued government investments in infrastructure. Banerjee, the newly elected Chairman, aims to double the industry's turnover from Rs 1 trillion over the next decade, noting the widespread demand for Indian tyres in over 170 countries. Citing data from the Commerce Ministry, Banerjee highlighted a significant recovery in tyre exports during the latter half of FY2023-24, witnessing a 12% increase in value. Despite slowdowns in advanced economies, geopolitical uncertainties, and inflationary pressures, the total tyre exports for the fiscal year matched the previous year's figure of Rs 231.25 billion, totalling Rs 230.73 billion. Notably, tyre exports have nearly doubled in the last four years, surging from Rs 128.44 billion in FY20 to Rs 230.73 billion in FY24. The United States remains the largest market for Indian tyres, accounting for 18% of total tyre exports in FY24. Banerjee emphasised the potential for further export growth if certain obstacles, particularly those related to accessing Natural Rubber (NR), are addressed. Restrictions on NR imports, including pre-import conditions and shortened export obligation periods, hinder operations and impact export performance. Banerjee suggested restoring the export obligation period from 6 to 18 months to alleviate these challenges. Furthermore, Banerjee highlighted the industry's substantial investments of around Rs 230 billion in greenfield and brownfield capacities over the past 3-4 years. Despite challenges, the industry remains ahead of the demand curve in meeting both domestic and export requirements. (Source:Hindu Businessline)

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Real Estate

09 Mar 2026

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Real Estate

09 Mar 2026

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..