Tyre exports grow 11% in Apr-Nov

India’s tyre exports grew by 11% YoY in volume terms between April-November, 2019-20, slightly lower than 12% y-o-y  volume growth in the previous year. Exports stood at 77,70,439 units in the period, up from 70,14,231 units an year ago. This increase has come despite production declining by 6% to 1,213 lakh units from 1,294 lakh units in the same period last year due to major production cuts by vehicle companies, according to Automotive Tyre Manufacturers Association (ATMA). The rise in exports comes after two years of slow trade. With tyre product mix reflecting global trends, exports are expected to increase further, according to Satish Sharma, president-Asia Pacific, Middle East, Africa, Apollo Tyres. He added that the rise has come because vehicle companies, both Indian and MNCs, are “increasingly exporting out of India which is a production hub and tyre exports are riding on it”. Also globally, ‘made in India’ has as good if not a better reputation than ‘made in China’, according to Mr Sharma.