Tyre Imports

Price hikes to offset some of the the surge in raw material costs

Factors helping capacity utilisation include encouraging domestic replacement demand in passenger vehicles, two-wheelers and the farm segment, and a drop in imports

In the first 11 months of FY20, a year that saw economic slowdown in India and reduced demand, tyres worth $385 million still made their way to the country

Following a 6.7% growth in FY19, the domestic tyre demand is estimated to grow at a lower rate of 3-4% (volume) during FY20, according to Icra

As per industry estimates, 5,000-6000 jobs at least have been lost in the past few months