Indian government moves to restrict tyre imports
India officials have announced restrictions on imports of passenger car, two-wheel, truck and bus tyres in a bid to help boost domestic tyre
Tyre imports now need permission even after paying the customs duty, according to the rules outlined in an amendment in the import policy of pneumatic tyres by the Directorate General of Foreign Trade (DGFT) under the Union Commerce Ministry.
Previous to the new policy, no restrictions applied to imported tyres apart from various import duties over the years. The measures com in parallel with the Indian government’s “Go Vocal for Local” post-Covid self-sufficiency drive.
Imports of tyres into India were worth $260.72 million in April-February 2019-20 compared to $330.72 million in 2018-19.