The Indian tyre Industry is worth around Rs. 64,000 crore. With 41 tyre companies and 62 tyre manufacturing plants, this sector produces the largest variety of tyres in the world and employs two million people besides providing livelihood to another one million that includes retreaders, dealers, repairers etc.
Tyre manufacturing in India serves two segments viz. the Original Equipment segment—new vehicles fitted with tyres at the factories; and the Replacement segment—consumers buying replacements which accounts for 55 per cent to 70 per cent of the market by category.