There is immense potential for growth for Indian tyre industry in the emerging new world order. However, an effective collaboration between the industry and raw material partners is imperative to harness this potential, said Anshuman Singhania, Chairman Automotive Tyre Manufacturers Association (ATMA) at ATMA Partners’ Summit.
The 5th ATMA Partners Summit was held in a virtual mode with a dedicated focus on Synthetic Rubbers – SBR, PBR and Butyl Rubber- used in the tyre industry.
As a key sector of the economy, tyre Industry has displayed resilience to bounce back after every challenging phase. Last year, the growth plummeted in the first quarter in view of the lockdown. However the industry staged a strong recovery in the subsequent quarters and the supply side was under stress to meet the demand. This year again the sector witnessed a slowdown in May and June. “But I am hopeful of recovery soon as the process of unlocking has begun in earnest and the vaccination drive is gathering momentum”, added Singhania.
He exhorted the supply chain partners to keep pace and support the recovery in demand projected for tyres in the coming quarters.
A key highlight of the event was three high-profile industry presentations by Bhavesh Pande, Managing Director, Indian Synthetic Rubber Pvt Ltd (ISRPL) , Virendra Rathod, Head-Synthetic Rubber Business, Reliance Industries Limited (RIL) and Shinichiro Yamashita, South Asia Tire Market Development Manager, ExxonMobil on three segments of SBR, PBR and Butyl Rubber respectively.
Srinivasu Allaphan, Convener, ATMA Industry, Public & Economic Affairs (IPEA) Group and Ravin Kurian, Convener ATMA (Technology, Environment, Safety & Standards (TESS) Group made a presentation each on tyre industry outlook and tyre industry legislation respectively for the benefit of supply chain partners.
Held annually, ATMA Partners' Summit brings tyre industry and its raw material partners together. It has been developed as a platform for the raw material intensive tyre industry and its supply chain partners to interact, ideate, discuss and jointly work towards developing a sustainable ecosystem, said Pravin Tripathi, Convener ATMA Supply Chain & Resources (SCR) Group.