India's Tyre Exports Grew 30% in H1 2011-12.

MUMBAI (Commodity Online): India's Trye exports grew 30% in the first half (H1) of the fiscal 2011-12, desipte the global economic slowdown, according to the data from Automotive Tyre Manufacturers Association (ATMA).

Around 3.7 million tyres where exported during April-September period against 2.9 million tyres in the same period of the last financial year.

The total production of tyres in India in all automobile segments touched 63 million pieces in H1 2011-12 fiscal, grew by 10% against 57 million in the same period last year.

The two wheeler tyres recorded the highest growth in exports of 125%. A total of 41, 808 tyres were exported in the H1 of current fiscal against 18,600 in the same period last year.

According to ATMA data, the passenger car exports increased 40% to 731,676 as against 521,490 tyres in April-September period of the last financial year, while the production increased from 12 million in the H1 in fiscal 2010-11 to 13.2 million in the current fiscal. Around 109,878 Off-the-road (OTR) tyres were exported during the period and the production increased by 8%.

The average monthly exports increased to 631,032 tyres as against 486,608 tyres in the same period last year. Demand for the tyres from the re-placement sector is high compared to the original equipment sector.

On BSE, MRF was trading up 0.21% or Rs 14.10 touching Rs 6,745.00 on 14th November at IST 11:00.

Source : commodityonline.com