Photo courtesy: JK Tyre & Industries
The Government’s recent decision to place tyre imports in the restricted list comes as big news for the tyre industry, which has long been calling for such a step.
A key reason for this call was the hardship the tyre industry has faced owing to the indiscriminate import and dumping of tyres in the country, an outcome of an inverted duty structure, says Rajiv Budhraja, Director General, Automotive Tyre Manufacturers Association (ATMA). “The import duty on the principal raw material of tyres, natural rubber (in which India is deficient) is 25 per cent, while that on tyres, a finished product, is 10-15 per cent. Und