India's tyre industry to touch $22 billion in 10 years: ATMA - India Shipping News

The Indian tyre industry is expected to experience significant growth, with revenue predicted to reach $22 billion by FY32, according to the Automotive Tyre Manufacturers' Association. The sector's cumulative investment is also forecasted to rise from $7 billion to $12.5 billion during the same period. Rising demand for new vehicles, government investments in infrastructure, and the growing vehicle park are key drivers for this growth. The industry's turnover is expected to increase to 3.4% of India's manufacturing GDP by fiscal 2032. Furthermore, the industry aims to reduce import content in locally made tyres and increase exports to over 170 countries.

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