Indian Minister of Commerce & Industry Suresh Prabhu has urged all stakeholders of rubber to work together along with the government to arrive at a policy that is conducive to the growth of the Indian Rubber Sector and meets the needs of both Rubber growers and consumers. He was speaking at the first annual convention of the Automotive Tyre Manufacturers’ Association (ATMA) in New Delhi, India on February 7, 2018.
“Tyre Industry is the engine of mobility and is truly the soul of the auto sector. Growth in the Tyre sector indicates a growing auto sector and in-turn a growing economy,” the Minister said.
The ATMA annual convention has urged for closer collaboration between tyre industry and its stakeholders especially the Auto OEMs for unfolding mega potential of tyre industry’s rich value chain.
“Having played its well-deserved role as a lead sector of manufacturing, Tyre Industry in India is on the cusp of a significant growth. At a time when private investment cycle in India is yet to be revived, Indian tyre industry has invested over $7 billion in recent years. The financial year 2017-18 has been a breakthrough year for the Tyre Industry. The government has supported the Tyre sector by way of imposing Anti Dumping Duty (ADD) on Truck and Bus Radial Tyres from China and by increasing the Customs Duty on Tyres to 15% (from 10%) in the Union Budget”, said Satish Sharma, Chairman ATMA.
Neeraj Kanwar, VCMD Apollo Tyres, Dr Raghupati Singhania, CMD JK Tyre & Industries and Arun Mammen, VCMD MRF have participated in the panel discussion on tyre industry at the convention.
Amitabh Kant, CEO, NITI Aayog exhorted the industry to take disruptions in the automotive sector in its stride and continue to remain focused on manufacturing excellence.
Rakesh Batra, Partner and National Leader Automotive, Ernst and Young made a theme presentation on Redefining Tyre Industry – OEM Partnership. In another panel discussion on ‘Future of mobility and the Respective roles of Tyre and Auto sectors’, Ajay Sevekari, Director Bridgestone India, Minaz Hassam, CFO and MD Continental India, V K Misra, Technical Director, JK Tyre and Koshy Varghese, Executive VP, MRF Ltd have expressed their views.
Anant Goenka, MD CEAT & Vice Chairman ATMA said that tyre industry and the government have been working in sync with each other and in the coming days, the industry looks forward to much closer cooperation. He was speaking on the theme ‘Tyre Industry-Government Partnership’. He stressed on the need to accelerate the process of Natural Rubber Policy formulation for optimum growth of rubber value chain and address the Inverted duty structure issue.
Release of Reports
A Tyre Industry Research Report titled ‘Turning the Wheels of Progress’ was released by Minister Suresh Prabhu. Prepared by Thought Arbitrage Research Institute (TARI-headed by Kaushik Dutta), the report underlines tyre industry’s competitiveness, export achievements and the policy enablers which could accelerate industry’s growth. Amitabh Kant released a Study on Corporate Social Responsibility (CSR) by Tyre sector in India. A commemorative volume on Indian Tyre industry’s Journey over the Years was also released at the event.
ATMA Fleet Management Awards presented
During the first annual convention, ATMA has launched Fleet Management Awards to recognize the excellence in the sector. Five Fleet Management awards were conferred in the fields of Drivers’ Training & HR Practices; Safety Initiatives; Adoption of Technology/ Telematics; Adoption of Efficiency Measures and Corporate Social Responsibility. Amitabh Kant presented the awards to the winners.