ATMA predicts a 15% growth in tyre exports in FY23.

The consistent support from raw material providers has helped the industry maintain growth momentum both domestically and in export markets.

By moving directly from BSIV to BSVI, India has shortened the lifecycle of emission standards. The tyre sector now bears a significant portion of that liability.

The Indian tyre sector is rapidly integrating into global supply chains assisted by the globally aligned regulatory framework in the country that has resulted in a rise in the addressable market for domestically manufactured tyres.

According to Satish Sharma, Chairman of the Automotive Tyre Manufacturers' Association (ATMA), the leading body representing tyre makers in India, exports of domestically manufactured tyres increased by 50 per cent last year and are expected to increase by about 15 per cent this fiscal year.

"OEMs are expecting the tyres to contribute in a very big way to satisfy the excessive expectations now being put on them. There are enough rules happening on the noise front, rolling resistance etc and it is vital for the tyre business's supply chain partners to help the industry to achieve these standards," added Sharma.

He believes that consistent support from raw material partners, who have stood steadfastly with the industry during a time when supply chains have been disrupted due to Covid and then due to geopolitical concerns, has helped the industry maintain growth momentum both domestically and in export markets.

Notwithstanding global economic obstacles such as recessionary conditions, rising interest rates, and political unrest, which have slowed external demand, Indian tyre exports have maintained their own.

According to the most recent data from the Ministry of Commerce, India's tyre exports increased by 15% between April and December of FY23. India is expected to export tyres worth Rs 17,816 crore in April-December 2022, up from Rs 15,507 crore the previous year.

According to the ATMA Chairman, the automotive sector is evolving and putting additional expectations on the tyre business and its supply chain partners.