Tyre making and selling is a field or an area about which most of those who uses a two wheeler or a four wheeler is not so aware of. It is said that there is a huge gap between domestic production and consumption in the Tyre Industry.
To narrow this gap, the tyre manufacturers are asking for duty free import of one lakh tonnes of natural rubber. If this happen, that will be a great boon to this big industry.
Autmotive Tyre Manufacturers Association (ATMA) have also got into the act and now is requesting for for waiver of customs duty on those raw materials that have no domestic production.
The tyre industry is faced with severe erosions of net margins as 70% of raw materials account for industry turnover and the input cost pressure has risen. The Tyre industry is one massive industry worth close to Rs 12,000 crore.
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