Tyre Exports To UK Rise 11%, Hit Rs 732 Crore In FY25

(MENAFN- KNN India) New Delhi, Jul 30 (KNN) India's tyre exports to the United Kingdom touched Rs 732 crore in FY25, marking an 11 per cent rise from Rs 660 crore in FY24.

The growth comes on the heels of the newly signed Comprehensive Economic and Trade Agreement (CETA) between India and the UK, which has eliminated all customs duties on Indian tyre and rubber product exports to Britain.

The Automotive Tyre Manufacturers' Association (ATMA) welcomed the agreement, calling it a major boost for the Indian tyre sector.

With the removal of UK import duties, Indian tyre makers are expected to gain improved market access and increased price competitiveness in the UK-one of the key European destinations for Indian tyres.

ATMA Chairman Arun Mammen said the move would strengthen Indian tyre manufacturers' foothold in developed markets and build on the export momentum witnessed in recent years.

Exports to the UK have consistently grown, rising from Rs 602 crore in FY23 to Rs 660 crore in FY24, and further to Rs 732 crore in FY25.

The industry expects the duty-free status to accelerate export growth in the coming years. Meanwhile, the agreement has also taken steps to protect India's domestic market.

Imports of tyres from the UK will undergo a phased tariff reduction under the E10 staging category, with import duties gradually reduced over ten years.

This dual approach, offering immediate export advantages while gradually opening the domestic market, ensures a balanced deal, said ATMA.

It supports long-term sustainability by safeguarding domestic manufacturers while expanding global opportunities.

With over Rs 25,000 crore worth of tyre exports in FY25 and strong R&D and manufacturing capabilities, India's tyre sector is poised to benefit significantly from the CETA deal.

(KNN Bureau)

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