In FY 2021-22, India's tyre exports increased by 50% to an all-time high of Rs. 21,178 crore (US$ 2.72 billion). This is up from Rs. 14,101 crore (US$ 1.81 billion) in FY20-21, according to data supplied by the Ministry of Commerce and Industry. Despite Covid delays in the last two fiscal years, India's tyre exports have increased by 70%.
While farm/agri and OTR/industrial tyres have traditionally been India's most exported tyre categories, truck and bus radial (TBR) tyre exports have accelerated in recent years, nearly tripling from Rs. 1,263 crore (US$ 162.39 million) in FY19 to Rs. 3,095 crore (US$ 397.94 million) in FY22.
Indian tyres are being sold to more than 170 countries, including markets in North America and Europe. In FY22, the top five export destinations for Indian-made tyres were the United States (19%), Germany (7%), Brazil (6%), the UK (4%), and France (4%).
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.