The Automotive Tyre Manufacturers Association (ATMA), representing 95% of India’s tyre industry, convened its Annual Conclave in New Delhi on February 16, 2024. Anshuman Singhania, Chairman of ATMA India, outlined ambitious goals to increase tyre exports to over USD 5 billion by 2030, positioning India among the top three global tyre hubs. He noted the significant growth in Indian tyre exports, reaching USD three billion, with exports to over 170 countries. Singhania also highlighted challenges such as recessionary conditions and the Red Sea supply chain crisis but emphasized collaborative efforts to overcome them. Strategic measures discussed included signing Free Trade Agreements with key importing countries and enhancing industry-government partnerships. The event also saw the release of a White Paper and McKinsey report, underscoring the industry’s potential in driving economic growth and promoting road safety. Key stakeholders, including government officials, emphasized the importance of collective action and technological advancements for achieving road safety objectives.
