Indian Tyre Exports Soar Amid 2023-24 Fiscal Recovery

Indian tyre exports for 2023-24 matched the previous fiscal year's Rs 23,073 crore, bolstered by a 12% recovery in the second half, despite initial setbacks due to falling demand and global uncertainties. The Automotive Tyre Manufacturers' Association (ATMA) highlights the Indian tyre industry's resilience and quality appreciated worldwide.

Indian tyre exports during the 2023-24 fiscal year reached Rs 23,073 crore, mirroring the previous year's figures, thanks to a robust recovery in the latter half, according to the Automotive Tyre Manufacturers' Association (ATMA).

The first half of the fiscal year saw tyre exports severely impacted by dwindling demand due to a slowdown in advanced economies, geopolitical tensions, and inflationary pressures, the industry body said in a statement.

"Tyre exports from India saw a sharp turnaround in the second half of FY2023-24, rising 12% in value compared to the same period the previous year," ATMA cited, based on data from the Ministry of Commerce. This bounce back is a testament to the resilience and global quality recognition of the Indian tyre industry, said ATMA Chairman Arnab Banerjee.

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