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)

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Infrastructure Urban

01 Jun 2026

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

Infrastructure Urban

01 Jun 2026

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..