New Delhi : The India tyre industry growth 2047 is projected to reach Rs 1.30 lakh crore, driven by a resilient OEM base, rising vehicle exports, and strong replacement demand, according to a joint report by ATMA and PwC India.
The report highlights that revenue growth will accelerate due to premiumisation, a higher share of exports, electrification, servitisation, and rising raw material prices.
Kavan Mukhtyar, Partner and Leader – Automotive, PwC India, said, “India’s journey towards Viksit Bharat 2047 offers immense opportunities for the tyre industry. Companies can meet domestic demand while scaling exports in passenger and commercial vehicle segments to markets like the US and EU.”
The report identifies robust PV and 2W sales, rising CV demand, and increased mobility as key drivers of OEM and replacement tyre demand. Export-centric strategies, market-specific innovations, free trade agreements, and brand positioning will further accelerate India’s tyre exports.
Arun Mammen, ATMA Chairman, added, “The Indian tyre industry stands at a transformational point. Premiumisation, sustainability-focused innovation, and technology-driven services will help companies build a resilient and future-ready sector.”
The report also highlights the rising demand for professional tyre services, including fleet management solutions, tyre advisory, and TPMS-ready solutions. Tyre companies will need to develop cost-effective strategies to navigate data security and regulatory challenges while reaching servitisation potential.
Industry experts note that ensuring sustained availability of natural rubber, addressing regulatory challenges, and overcoming non-tariff barriers will be crucial to support long-term growth and export acceleration.
With the industry poised to play a central role in India’s automotive ambitions, stakeholders expect a dynamic transformation in the tyre market driven by technology, premium products, and global expansion.
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