India's tire industry to reach ₹13 lakh crore by 2047
Big things are rolling for India's tire industry—revenues are projected to jump twelvefold, reaching ₹13 lakh crore by 2047.
This surge comes from more people wanting premium tires, strong exports, and steady demand at home, according to a new report from ATMA and PwC India.
Production and export growth
Tire production is expected to be four times higher by 2047, thanks to growing demand from car makers and people replacing old tires.
Even with global ups and downs, India's tire exports rose 9% in FY24 to ₹25,051 crore.
The industry has kept investing—about ₹27,000 crore recently—to boost capacity.
Focus on EVs and infrastructure
Major export markets like the US and EU are in focus.
The sector is set for steady ~10% CAGR in OEM and replacement tire revenue until FY47 as infrastructure projects ramp up and tech keeps improving.
Trends like electric vehicles and smarter services are changing how money flows in the industry—all part of India's big-picture Viksit Bharat vision for a developed nation by 2047.