Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
272
nda:
Needmore seats to Win
Needmore seats to Win
upa:
»
2-min read

Import of Chinese Tyres Started to Decline: Automotive Tyre Manufacturers Association

Tyre dealers have become "confident" of not purchasing Chinese tyres as their "profitability" has crashed.

PTI

Updated:November 27, 2017, 11:05 AM IST
facebookTwittergoogleskypewhatsapp
Import of Chinese Tyres Started to Decline: Automotive Tyre Manufacturers Association
Image for representation purpose. (Photo: Reuters)
The note ban in 2016, introduction of Goods and Services Tax (GST) and anti-dumping structure have resulted in a decline in import of Chinese tyres, the chairman of Automotive Tyre Manufacturers Association said.

"Now you can say the Chinese imports have become less than half. During the demonetisation month (November 2016), it dropped by 20 percent. GST coupled with anti-dumping duty, it has started to sink further," ATMA chairman Satish Sharma told reporters.

Noting that import of Chinese tyres has started to 'decline', he said, "the imports of Chinese tyres stood at 1,50,000 units in May 2016. Today it is 50,000 units and still going down." Tyre dealers have become "confident" of not purchasing Chinese tyres as their "profitability" has also crashed, he said.

To a query on the growth of the tyre industry, he said it was pegged at "high single" digit during the current financial year and would be "high double-digit" in FY18-19. "My guess is that the industry this year would see a high single digit (growth) and then it should be in the double-digit (as turnover)," he said.



Referring to the recent interaction of ATMA's top office-bearers with Commerce Minister Suresh Prabhu, he said the Minister assured to take care of which can be done and also asked them to discuss again in "boardrooms" the difficulties.

"There have been restrictive trade practices which actually spoilt the case even further. They restricted the imports (raw materials) to a few ports. You can bring in through JNPT only. So we expect these things can be taken care of," he said.

He said India signing free trade agreements would also give support to the industry. Stating that India was not producing radial tyres when the world was looking for radial tyres a decade ago, Sharma said, "now we are producing radial tyres, we are re-entering the world market and the world has taken note of this".

Also Watch: Maruti Suzuki's Senior Executive Director, RS Kalsi Asks #PehniKya?


(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Ayushmann Chawla
Read full article
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 

Live TV

Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results