Indian Tyre Industry
An Overview
Key Figures :
| No. of Tyre Companies: | 28 |
| No. of Tyre Plants: | 62 |
| Industry Turnover 2022-23 (est.): | Rs 90000 crore (US$ 11 Bn) |
| Exports 2022-23 (est.): | Rs. 23125 crore (US$ 2.9 Bn) |
Policy Environment:
- All categories of tyres can be exported freely.
- Select categories of tyres are under Restricted List (Import permitted against a Licence). No WTO Bound Rates for tyres and tubes
- Imports of Second hand/Retreaded tyres (major categories) is restricted under EXIM Policy and can be done against an import licence.
- Tyres imports under Regional Trade Agreements (Asia Pacific Trade Agreement, Indo-Sri Lanka, SAFTA, India-Singapore, ASEAN, India-Malaysia etc) allowed at preferential rates of import duty.
- All tyre industry-related raw-materials can be imported freely (under OGL).
- Tyre Industry delicensed in September, 1989.
- Natural Rubber (NR) principal raw material of Tyre Industry, is in the ‘Negative List` (i.e. not eligible for any concession in Custom duty) under various Trade Agreements, i.e. India ASEAN Free Trade Agreement, India Sri Lanka Free Trade Agreement, South Asian Free Trade Agreement (SAFTA), India Malaysia Comprehensive Economic Cooperation Agreement (CECA), India-Singapore Comprehensive Economic Cooperation Agreement and India-South Korea Comprehensive Economic Partnership Agreement (CEPA).