India's tyre industry braces for another year of sluggish growth: CRISIL

Quick Summary:

The government’s extension of countervailing duties on Chinese radial tyres has also eased competitive pressures for domestic manufacturers, providing some relief amid an otherwise challenging environment.

Exports, which constitute around 25 per cent of the industry's sales, are also facing headwinds.

Growth in exports is projected to be limited to 2-3 per cent in FY24.

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Category: BusinessFinance

Markets: IndiaThailandVietnam

Topics: CAGR CRISIL Ratings Chinese radial tyres India's tyre industry growth 2024 Automobile industry Tyre market India analysis Tyre industry

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 17:25:41 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 433 words

Reading Time: 3 minutes read

Sentences: 13 lines

Sentence Length: 34 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23657456

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