Date: 27/05/2024

Call for tyre imports not to be liberalised through FTAs

India has sufficient tyre manufacturing capacity and imports should not be liberalised through FTAs by way of duty concessions, the industry body Automotive Tyre Manufacturers’ Association (ATMA) said in response to the government seeking feedback about sectors in which India has capabilities to be self-reliant so that upcoming FTAs could be drafted while safeguarding the interests of domestic industry. Automotive tyres rank at the forefront of those sectors where domestic manufacturing capabilities can render imports unnecessary. India’s domestic tyre industry, among the largest in the world, has an annual production exceeding 200 million units across various categories including two-wheelers, passenger vehicles, commercial vehicles and off-road vehicles. Despite adequate manufacturing capacities, over Rs 2,000 crore worth of tyres were imported into the country in the first three quarters of FY24, an increase of 27 per cent over the same period in the preceding year, ATMA said, as per a report.
source: Exim News Service: New Delhi, May 26