Import of Chinese tyres has started to decline: ATMA_Import of Chinese tyres has started to decline: ATMA

Import of Chinese tyres has started to decline: ATMA

May 30, 2024

The 2016 bill ban, Goods and Services Tax (GST) levy and anti-dumping framework led to a decline in the country’s tire imports.

Speaking to reporters today on the imposition of 20% GST and anti-dumping duty, ATMA Chairman Satish Sharma said, “Now we can say that China’s imports have halved.” The repeal order month (2016) GST year November) went down.” Done. It started falling further. “Chinese tires have started falling,” he said, “In May 2016, Chinese tire imports were 150,000 units. Now it’s 50,000. Yes, and it’s falling. ‘

He said tire dealers were “confident” they would no longer buy Chinese tires because their “profitability” had also collapsed.

Asked about the growth of the tire industry, he said the industry recorded “high single digit growth” in 2017. The company said revenues would be in the “high double digits” for the 2018-19 fiscal year.

He said, “I think the industry will see high single-digit growth this year and thereafter ‘sales’ will be in double digits.”

Referring to a recent conversation between senior ATMA officials and Commerce Minister Suresh Prabhu, he said the minister assured them that what they could do would be done and asked them to discuss the difficulties again in the “boardroom”.

“Restrictive trade actually further weakens the situation. They restrict the import of raw materials from a few ports. This can only be done through JNPT. Entry. Therefore, we hope that these issues will be addressed,” he said.

He said the signing of a free trade agreement by India would also support the industry.

He also pointed out that India was not producing radial tires at that time. Ten years ago, Sharma said, the world was looking for radial tires. “Now we are producing radial tires, we are re-entering the global market and the world is watching us.”

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Import of Chinese tyres has started to decline: ATMA