India’s Tyre Exports Accelerate: 12% Growth in H1 FY2024-25 Driven by Quality and Innovation

India’s tyre exports recorded a robust 11.7% growth in the first half of FY2024-25, reaching ₹12,131 crore in value, according to the Automotive Tyre Manufacturers Association (ATMA). This strong performance, based on data from the Commerce Ministry, highlights the resilience and global competitiveness of the Indian tyre industry.

Key Markets: The US Leads the Way

The United States solidified its position as India’s largest tyre export destination, accounting for 15% of total export value. Other significant importers included Brazil, Germany, UAE, France, and Italy. This broad geographical reach underscores the growing global acceptance of Indian tyres across diverse markets.

Rising Export Volumes

In volume terms, tyre exports grew by 6%, with specific categories showing remarkable increases:

• Motorcycle Tyres: Exports surged by 37%, with 3.5 million units shipped, making Colombia the largest importer in this segment.
• Passenger Car Radials (PCR): Recorded an 18% growth.
• Truck and Bus Radials (TBR): Grew by 19%.

These figures reflect a rising global demand for Indian tyres, driven by their quality and competitive pricing.

Driving Forces Behind the Growth

ATMA attributed the growth to several factors:

1. Sustained Investments in R&D: Indian tyre manufacturers have consistently focused on enhancing product quality and innovation, aligning with international standards.
2. Manufacturing Excellence: Upgraded domestic manufacturing capabilities have strengthened the industry’s ability to meet diverse market demands.
3. Global Demand Recovery: Favorable economic conditions and anticipated monetary easing in key markets have further supported export growth.

ATMA Chairman Arnab Banerjee remarked, “The rise in tyre exports despite a challenging environment demonstrates the resilience and adaptability of the Indian tyre industry. Our commitment to quality continues to resonate with global buyers.”

Challenges on the Horizon

Despite the positive trajectory, the industry faces several headwinds, including:

• Geopolitical tensions
• Supply chain disruptions
• Rising shipping costs

However, Indian tyre manufacturers remain well-equipped to address these challenges through their focus on quality, innovation, and strategic adaptability.

Outlook: A Road to Greater Opportunities

The sustained growth in H1 FY2024-25 indicates a promising outlook for the Indian tyre industry. With increasing global recognition of their value proposition, Indian tyre manufacturers are poised to leverage emerging opportunities, expand their market share, and cement their position as leaders in the global tyre market.

As global economies continue to recover, the Indian tyre industry is not just keeping pace but driving innovation and excellence on the road to greater success.