Government issues new guidelines for tyre manufacturers

The ministry of commerce and industry has proposed fresh guidelines for tyre manufacturers committing to invest in India in brownfield or greenfield projects for manufacturing tyres, falling under the restricted list.

Autocar Professional BureauBy Autocar Professional Bureau calendar 01 Aug 2023 Views icon5233 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Government issues new guidelines for tyre manufacturers

Considering the overall growth of tyre Industry in India, the Ministry of Commerce and Industry has proposed fresh guidelines for tyre manufacturers; committing to invest in India in brownfield or greenfield projects for manufacturing tyres, falling under the Restricted List. Specific details are available with the concerned Division of Department for Promotion of Industry and Internal Trade (DPIIT).

Presently, import authorisations for new pneumatic tyres have been placed under ‘Restricted Category’ in terms of Notification No. 12/2015-2000 dated 12-06-2020 issued by the Directorate General of Foreign Trade (DGFT) and hence, the importers have to apply for Import Licence for tyres covered under the aforesaid Notification.

The move comes as the Indian tyre industry experiences a surge in demand for both domestic sales and exports, driven by an increase in vehicle ownership and the rising mobility and industrialisation.

RELATED ARTICLES
MapmyIndia Reports Strong Q4 and FY25 Results, Declares Final Dividend

auther Sarthak Mahajan calendar10 May 2025

MapmyIndia posts year-on-year growth across key financial indicators in Q4 and FY25, announces dividend, and outlines bu...

Volvo XC70 Returns as a Plug-In Hybrid SUV

auther Autocar India calendar10 May 2025

Previously an off-road station wagon, the Volvo XC70 returns as a plug-in hybrid SUV with an electric-only range of up t...

MG Windsor Pro Sees ₹60,000 Price Increase Within Three Days of Launch

auther Autocar India calendar10 May 2025

The introductory price was applicable for the first 8,000 bookings, all of which have already been amassed.