Guwahati: Tyre exports from India climbed by 50% to an all-time high of Rs 21,178 crore in the fiscal year 2021-22.

According to statistics given by the ministry of commerce, this is an increase from Rs 14,101 crore in FY20-21, Rs 12,844 crore in FY19-20, Rs 12,890 crore in FY18-19, and Rs 11,180 crore in FY17-18. This is one of the fastest-rising records in the industry.

Despite Covid interruptions in the previous two fiscals, India's tyre exports have increased by 70%.

"The export performance attests to the capabilities of the Indian tyre sector to satisfy increased demands from India in the current geopolitical context despite the odds of difficult times," said Satish Sharma, head of the Automotive Tyre Manufacturers Association (ATMA).

Tyres are one of the most important components of a vehicle. They are mostly employed in the automobile sector, which is one of India's fastest-growing industries.

Although farm/Agri and OTR/industrial tyres have traditionally been India's most exported tyre categories, truck & bus radial (TBR) tyre exports have increased about 2.5 times in the previous three years, rising from Rs 1,263 crore in FY19 to Rs 3,095 crore in FY22.

"The prohibition on indiscriminate tyre importation has assisted the sector in increasing the size and scale of manufacturing and aligning with global supply chains," Sharma noted. Indian-made tyres are being exported to over 170 countries, including markets in North America and Europe. The United States remains the largest market for Indian tyres, accounting for 19% of total tyre exports during the year.

In FY22, the top five export destinations for Indian-made tyres were the United States (7 percent), Germany (7 percent), Brazil (69 percent), the United Kingdom (UK), and France (4 percent each)

The tyre industry has the potential to more than double its exports from India in the next three to four years, according to ATMA.

Currently, India's market development is being driven by the country's thriving automobile sector. While supply chain disruption is an issue, the industry's biggest concern is the availability of natural rubber (NR). The pre-import criteria for NR import against (tyre) export obligation must be followed by the tyre business. "This makes operations highly constrained and has an impact on export performance," according to the ATMA statement.