India's Tire Industry Gets Back on Track

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Researched by Industrial Info Resources (Sugar Land, Texas)--India's tire industry is doing well as more vehicles come into production after the COVID-19 pandemic caused manufacturing slowdowns.

Original equipment manufacturer (OEM) demand from passenger vehicles should be healthy this fiscal year, given the rise in personal income and strong consumer preference for personal mobility. However, demand for two-wheeler and tractor OEM segments will continue to be modest, according to media.

Companies expect prospects for tire exports to remain favorable as Indian tire companies gain traction in international markets.

Industrial Info is tracking more than 30 active capital tire-related projects in India, valued at more than $900 million. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for the detailed reports.

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