AFPATMA said the top five export markets for Indian tires in FY21 were the US, Germany, France, Italy and the UK , with double-digit growth in exports to both these countries.

Association of Manufacturers (ATMA) India’s tire exports grew 10% annually to Rs 140.97 billion in 2020-21, according to the industry body’s automotive tire data released on Thursday.

ATMA cited the latest data released by the US Department of Commerce, which showed that tire exports grew by 8% to 3.64 billion units in the last fiscal.

India said in a report that the export growth came against the backdrop of disruption in international trade due to the New Crown Virus pandemic, which led to a sudden 23% drop in India’s tire exports in the first quarter of fiscal year 2021. ATMA Ans human Singhania “The significant growth in tire exports in a difficult year shows the resilience of the industry in spite of challenging circumstances.””

ATMA said government measures, including restrictions on tire imports, have helped improve the industry’s export competitiveness, adding, “Indian-made tires are now exported to more than 170 countries around the world, including India’s most discerning market, ‘the North.'” . USA and Europe.

ATMA said the top five export markets for Indian tires in FY2021 are the US, Germany, France, Italy and the UK, with all these countries recording double-digit growth in shipments.

“The US continues to be the largest market for Indian tires, accounting for 17% of India’s total tire exports this year,” he said.

In the last five years, India’s tire exports have grown by 60% from 2016, Rs. 88.25 billion in FY to 1409.7 in FY 2021 unless Rs. 100 million in 2020, otherwise there is a slight decline in tire exports in FY.

ATMA said that if certain hurdles are removed, especially access to natural rubber, (NR) exports from the Indian tire industry could increase significantly in the next three to four years.

ATMA “The tire industry has to comply with the pre-import condition (tire) export obligations for natural rubber imports.” We utilize natural rubber to enhance the competitiveness of the industry.