INDIAN TYREMAKERS GET BONANZA IN BUDGET 2018

Time: Feb 4th   2018   Copy editor: Tyrefull

Indian tyre manufacturers such as MRF, Apollo Tyres, Ceat and JK Tyre have much to cheer about the Union Budget 2018 of India presented by Finance Minister Arun Jaitley on February 1.

The Minister has raised customs duty on imported truck and bus radials to 15% from 10 %. It should be noted that, In September 2017, India imposed anti-dumping duty on a certain type of truck and bus radial tyres from China for five years.

The budget announcement comes as a breather for the Indian companies who have been battling competition from cheap Chinese tyres. Besides truck and bus manufacturers such as Tata Motors, Ashok Leyland and VE Commercial Vehicles are witnessing a rapid rise in demand for such vehicles.

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