 "Tyre exports can double with policy support")
The tyre industry, concerned about cheap Chinese imports, has said it can double exports in three years with adequate policy support.
According to industry stakeholders, demonetisation, followed by the GST, had led to a decrease in tyre imports from China.
Satish Sharma, chairman of the Automotive Tyre Manufacturers' Association (ATMA) and president (Asia-Pacific, Middle East and Africa) at Apollo Tyres, said that the body had commissioned a report on policy requirements that would help the industry to grow.
“Once the study is ready, we will approach the government,” he added.
There is potential to increase tyre exports to the Unitede States (US), Asia, Africa and the Middle East. Almost 15 per cent of the Rs 50,000 crore revenue of the tyre industry comes from exports.
“We can become a poster child for the government,” Sharma said.
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