Commerce ministry issues guidelines for tyre makers

The commerce and industry ministry on Tuesday said it has proposed fresh guidelines for tyre makers that are committing to invest in India in new or existing projects for manufacturing tyres, imports of which are under restricted category.

The ministry, however, has not provided any details in the press statement about those guidelines.

"Specific details are available with the concerned Division of Department for Promotion of Industry and Internal Trade (DPIIT)," the ministry said in a statement.

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At present, import authorisations for new pneumatic tyres have been placed under restricted category on June 12, 2020. Accordingly, importers have to seek a licence for those tyres.

It said that the Indian tyre industry has been witnessing a rise in the demand for production of tyres for export and domestic sales.

"The increasing ownership of vehicles aids the tyre industry. There is also a surge in demand for tyres for trucks and buses owing to the rising mobility and industrialisation," it said.

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