India's Tyre Exports Rebound In Q1 FY25, Up 17% Year-On-Year


(MENAFN- KNN India) New Delhi, Aug 30 (KNN) In a significant turnaround for India's tyre industry, exports have shown robust growth in the first quarter of fiscal year 2025, according to recent data released by the Automotive Tyre Manufacturers Association (ATMA).

The sector witnessed a 17 per cent year-on-year increase, with exports reaching Rs 6,219 crore, marking a stark contrast to the 14% decline observed in the same quarter of the previous year.

Arnab Banerjee, chairman of ATMA, attributes this growth to several factors. "Sustained focus on R&D and development of advanced technology products, combined with competitive pricing and strategic branding efforts, have enabled Indian tyre manufacturers to drive growth in exports despite a challenging environment," he stated.

Banerjee also noted that improving demand prospects in key export destinations and anticipated monetary easing have contributed to this positive trend.

The export data reveals that passenger car radial (PCR) tyres were the largest exported category, closely followed by motorcycle and farm/agricultural tyres. Notably, motorcycle tyre exports saw the highest growth at 38 per cent, while truck and bus radial (TBR) tyres experienced a 31 per cent increase.

India's tyre industry has significantly expanded its global footprint, now exporting to over 170 countries. The United States emerged as the largest export destination in Q1 FY25, accounting for 17 per cent of India's tyre exports. Other major markets included Brazil, Germany, France, and Italy.

This surge in exports underscores the Indian tyre industry's growing integration with global supply chains. Banerjee highlighted that the "globally aligned regulatory environment has also helped increase markets for India-manufactured tyres."

However, the ATMA chairman cautioned about potential challenges ahead. "Downside risks to Indian tyre exports continue, including global supply chain disruptions, geopolitical risks, the West Asia crisis, and rising shipping costs," Banerjee warned, emphasising the need for continued vigilance and adaptability in the face of global economic uncertainties.

This robust export performance not only reflects the resilience of India's tyre industry but also its increasing competitiveness in the global market. As the sector continues to innovate and expand its international presence, it remains a key contributor to India's manufacturing exports and economic growth.

(KNN Bureau)

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