ATMA SPOTLIGHTS TYRE INDUSTRY TRENDS

At the ATMA Annual Conclave, stakeholders of the tyre industry deliberated on greater sustainability and the adoption of emerging technologies to enhance productivity, writes Richa Tyagi.

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Automotive Tyre Manufacturers Association (ATMA), representing 95 per cent of the tyre industry in India, has time and again deliberated on the growth of the tyre industry, localisation of the tyre industry's value chain, sustainability practices within the sector and the use of emerging technologies such as Generative AI to enhance productivity.

At the ATMA Annual Conclave 2024 on February 16, 2024, in New Delhi, Anshuman Singhania, Chairman of ATMA India set the tone of the conclave by articulating the industry's ambitious goals, to increase tyre exports to over USD 5 billion and positioning India among the top three global tyre hubs by 2030.

He highlighted the growth of Indian tyre exports which has nearly doubled in the last 4 years.

"Tyres manufactured in India are being exported to more than 170 countries. Major global markets such as the EU, US, Brazil, UAE and UK are recognising the quality of made-in-India tyres. India's tyre exports currently stand at USD three billion, accounting for over 25 per cent of the industry's turnover," Singhania averred.

Citing statistics from the Ministry of Commerce, Government of India, ATMA stakeholders drew attention to tyre exports from India having increased from Rs.12,844 crore in FY20 to Rs. 23,125 crore in FY23. The US is the largest market for Indian tyres, accounting for about 25 per cent of total tyre exports from India.