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February - 2013 - issue > CIO Insights

Indian Tyre Industry: On a Highway to Growth

Koshy K Varghese
Executive Vice President - Marketing-MRF Ltd.
Thursday, January 31, 2013
Koshy K Varghese
BSE Listed MRF tyres is a tyre manufacturing company headquartered in Chennai. Founded in 1946, the company exports to more than 65 countries and has a market cap of $56.78 billion.



The Indian tyre industry has been reporting good growth figures, over the past few years, spurred on by the rise in the automobile industry led by passenger vehicles and two-wheelers. The Indian tyre industry has emerged as one of the most competitive markets in the world and with the emergence of new technology, ultra modern production facilities and availability of raw materials,the sector is poised to grow further. A recent study states that the Indian tyre production is expected to reach almost 20 crores units by 2016-17.


In the previous financial year, the Indian tyre industry witnessed a turnover of Rs. 30,000 crores, producing 11.92 crores tyres, a total tonnage of 14.88 lakh metric tons. Currently India has 40 listed tyre manufacturing companies, out of which the top 10 account for over 96 percent of the country’s total tyre production. The tyre export market in India is valued at Rs. 3600 crores. While the tyre industry is largely dominated by the organized sector, the unorganized sector is predominant with respect to bicycle tyres.



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