And so is the Auto sector. Inverted duty structure needs to be addressed and import of raw materials, be it NR or Synthetic Rubbers, needs to be allowed duty-free to the extent of domestic deficiency.
What all steps do you expect from the Government to help and promote the domestic tyre industry? Inverted duty structure needs to be addressed and import of raw materials, be it NR or synthetic rubbers, needs to be allowed duty-free to the extent of domestic deficiency.
With investment for the enhancement of existing capacities — both The tyre industry sector and Brownfield -- in India and new capacities in other countries such as Hungary and Bangladesh, the tyre industry is likely to get the boost.
Asia-Pacific leads the global tire market. Strong interest in expansion of radial tyre capacity and tubeless tyres would augur well for the industry. How does the tyre industry view the crisis of the The tyre industry sector plantation sector caused by price fall?
In that respect, the quality of natural rubber available in India in certain cases leaves much to be desired. Tire Market Outlook Automotive production will continue to drive growth in the original equipment manufacturer OEM market, reports Global Industry Analysts, while increasing average vehicle life will fuel demand in the replacement market.
In an interview to Rubber Asia, Rajiv Budhraja, the authoritative spokesman of the Indian tyre industry, asserts that, if the Indian tyre manufacturing industry is to blossom, dumping of the Chinese tyres needs to be curbed forthwith.
Which are their major export markets? The world is talking about India opportunity in unison, being the fastest growing economy in the world. The new Greenfield facilities put in recent years by the industry can vie with the best in the world. In fact, NR prices in India have been still ruling higher than the international prices.
Fall in prices of commodities is a worldwide phenomenon and cannot be wished away. OEM and replacement motor vehicle tires demand, in particular for light vehicles, will continue to grow in tandem with car ownership. Tyre companies are exploring all the avenues to ensure that the growth of their businesses, which include deeper penetration into existing markets within India as well as outside, extending their relationship with OEMs and expanding product range.
Yes, import of cheap tyres from China is a serious threat to the Indian tyre industry. What are the strengths and weaknesses? Industry players will seek to boost sales through new product distribution opportunities and by improving their product mix.
Tyre is perhaps the only major sector left where inverted duty still prevails. As you may know, for a tyre manufacturer, India represents a challenging country for the sheer diversity of road profiles and weather conditions. What are the problems on the export-import front?
What else could be a better endorsement for the Indian tyres? Moreover quality needs to be incentivised so as to encourage the effort.
The problems pertain to lack of a level-playing field existing in the tyre industry. Currently, India is the toast of the world, a bright spot while the rest of the world is largely facing economic volatility.
The industry has presented these primary demands before the Government. What more measures do you expect from the part of the Board? Leading Tire Industry Associations. However, NR has been put in the negative list in most of these agreements thus denying the opportunity for the Indian consumers to source NR cheaply.
The new Chairman of Rubber Board has also shown commitment to improve quality. Last two years alone have witnessed a 10 percentage point jump. Tires for use in other sectors — such as for airplanes, mining equipment, agriculture, and construction — as well as services around tires repair, replace, etc.
The success of their operations is closely correlated with the rubber industry which benefits or suffers from any tire market evolutions. We have seasoned entrepreneurship in the country, globally integrated industry, large skilled manpower, verdant NR plantations and a fast-growing economy.
As has been proved in studies, usage of NR leads to much less carbon footprint thus helping the environment. India-made tyresare as technologically advanced as they can get. Tyre is a raw material-intensive product. How technologically advanced and globally competitive are India-made tyres?
A persistent decline in raw material rubber cost once again boosted the margins of the Indian tyre companies and helped tyre manufacturers increase operating margins significantly.
All that is enough to give a big boost to the growth in tyre sector if some of the bottlenecks, as discussed above, are removed. How can we achieve the vision? What steps are being taken by the domestic tyre industry in this direction?Read latest tyre industry news here.
The increase in the crude oil price has hit the rubber industry leading to the rise in the synthetic rubber prices.
Domestic tyre industry is on the cusp of formidable growth. We have seasoned entrepreneurship in the country, globally integrated industry, large skilled manpower, verdant NR plantations and a fast-growing economy.
All that is enough to give a big boost to the growth in tyre sector if some of the bottlenecks, as discussed above, are removed. present section broadly undertakes an overview of the Indian tyre industry in the light of global perspectives through an examination of its growth trends with respect to production, marketing, technology, Govt.
policy, customer perspectives, and future prospects. And the tyre industry's performance is closely linked to that of the automotive sector. Tyre manufacturers are expected to invest large amount in the industry over the next few years, for brand building, new and innovative product developments, research & development (R&D) initiatives and extensive expansion of distribution networks.
The South African Tyre Industry.
The tyre industry is worth approximately R30bn per annum and is one of the key supporting industries for the domestic automotive industry. Although the industry has the capacity to manufacture 18 million tyres per annum, only 11 million tyres are manufactured locally.
The tyre industry sector is providing direct employment to over 40, people and indirect employment to lakhs of people. This industry sector is now being considered as a core industry sector.Download