Tyre Trade - Maintaining the Wheels of India’s Economy

1. Tyre Trade - Maintaining the Wheels of India’s Economy The execution of different plans and projects is one of the concrete indices that reflects a nation’s healthy economy. The prime secret behind the success of such missions is state- of-the-art infrastructural prowess like transportation that transits both men and materials from one destination to another. For example, in India, there is ever-increasing demand for a large number of accessories like tubes, tires and radials for crores of vehicles on roads. Thus, one could sound off that tyre manufacturers in India have been performing yeoman’s job in the cause of the economy of the nation. In the past one decade, India has witnessed a phenomenal growth on almost each and every front despite facing the dearth of sufficient industrial production of automobiles. Nonetheless, the tire industry has completely filled the void to maintain the wheels of the country’s economy. The tyre market in India is vibrant and the manufacturers monitor all the progress and ongoing trends at the ground level. They perpetually update the requirements of both the automobile makers and end-users. These decisive factors simply range from the load index, speed, size, standard rimming, section width and the overall diameter apart from ratings of optimum load and pressure. In the contemporary times, the major manufacturers and suppliers of the global quality tires to the gulf and African countries are principally from India. All the best motorcycle tyre manufacturersin the country’s trade have carved a especial niche for themselves by delivering world-class products to their international clients. Some of the major tyre makers have even earned the reputed ISO 9001, CCC, DOT and ECE certifications from the national and international quality monitoring bodies. High quality parameters have successfully determined the direction of the Indian tyre industry to explore global markets. With the heavy import of staples and remarkable export of products being lawfully permitted, the tire industry in India has achieved significant landmarks. Tubeless tires, being the order of the day, have grabbed a lion’s share, particularly in the export market. Recently, the industry experts and global tyre market analysts have made predictions stating that the demand for quality tubes and tyres is expected to grow by a whopping 8 to 9 % during 2016-17. There has always been a ceaseless demand for ‘Made in India’ tires in the international markets, particularly in the segment of two-wheelers and commercial-grade vehicles like buses and trucks. On the whole, the tyre industry in India is one of the most significant industry verticals that is fabulously contributing to the economy. To meet the ever- growing tyre needs from across the globe, the tyre makers in India are coming up with new state-of-the-art plants, ultra-modern machining tools, research and development f a c i l i t i e