Michelin’s Chief Executive Officer FlorentMenegaux said that the company is seriously contemplating local production of passenger car tyres in India.
The Clermont-Ferrand-based tyre giant might expand operations in India, which are still severely constrained as a result of the government’s imposition of import limits in 2020, with the aid of local manufacturing.
The tyre manufacturer, which has 67 factories and presence in 175 countries, only sells premium bigger size tyres in a small quantity right now, mainly for performance-oriented models in India.
In an effort to support domestic manufacture, the government placed import restrictions on a number of new pneumatic tyres used in automobiles, buses, trucks, and motorbikes in 2020.
Tyre companies can now import only a small number of tyres into the country under a limited import licence, which was not the case before 2020.
