Tyre imports plunge 44% in Q1

2020/09 28 10:09

Tyre imports have seen a big decline throughout the first quarter of this fiscal, and Thailand has changed China as the biggest exporter of TBR (truck and bus radial) tyres to India.

Throughout Q1 of this fiscal, whole tyre imports fell 44 per cent in worth phrases to ₹395 crore in contrast with ₹703 crore within the year-ago interval.

In FY20, whole tyre imports stood at ₹2,612 crore, down from ₹2,995 crore in FY19, ₹three,098 crore in FY18 and ₹three,282 crore in FY17, based on information from the Automotive Tyre Producers’ Affiliation (ATMA).

Import of passenger automotive radial (PCR) tyres accounted for the biggest share (58 per cent) in total tyre import volumes throughout Q1 of this fiscal. Bike tyres imports got here second with 18 per cent and TBR accounted for 10 per cent.

Regardless of the lockdown and commerce restrictions, India imported greater than a lakh TBRs throughout Q1 and nearly half of imports on this class got here from Thailand, whereas China accounted for 27 per cent.

In FY20, about 43 per cent of TBR imports got here from China and Thailand’s share was 42 per cent.

Nonetheless, in PCR imports, China accounted for 38 per cent, adopted by Thailand (22 per cent), Vietnam (18 per cent) and Indonesia (10 per cent).

Underneath restricted class

On June 12, the Directorate Normal of International Commerce notified that tyre imports (throughout all classes) into India would fall into the restricted class as in opposition to free class assigned earlier, implying imports would require DGFT permission.

The target of this transfer was to safeguard home tyre firms and be sure that tyres had been imported solely from registered/licensed house owners. The thought was additionally to discourage imports by the unorganised phase.

The transfer was additionally anticipated to learn home tyre makers.

Additionally low cost imports of truck and bus radial (TBR) tyres had been declining after the imposition of anti-dumping responsibility (since September 2017) and countervailing responsibility (from June 2019).

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