Srikumar Krishnamurthy, Senior Vice-President and Co-Group Head, Corporate Ratings at ICRA

India’s tyre sector is moving into a steadier phase after cyclical tailwinds from GST-led formalisation and rural demand. Srikumar Krishnamurthy, Senior Vice-President and Co-Group Head, Corporate Ratings at ICRA, says replacement demand will continue to anchor growth in FY2027 even as original-equipment volumes soften. Premiumisation is lifting tyre makers’ realisations, though input volatility and competition cap pricing power. Export prospects are improving with new trade agreements, but regulatory risks and cost pressures persist as companies balance capex with discipline.

ICRA expects the Indian automotive sector’s wholesale growth to normalise in FY2027. How does this moderation in vehicle volumes translate into tyre demand across OEM and replacement channels?

The normalisation of wholesale volume growth in FY2027 follows a period of elevated growth in the second half of FY2026, which was driven largely by post-GST reform-led factors and favourable rural demand sentiments. The moderation in wholesale volume growth will consequently translate to a similar growth in OE segment. The aftermarket segment, however, will follow the inherent replacement cycle of different sub-segments and other fundamental factors.

Replacement demand currently anchors tyre industry growth. What level of growth do you expect in this segment going forward?

The replacement segment saw a robust growth in the last 4–5 months supported by the post effects of GST rate cuts and healthy rural demand following good monsoons and crop output. The current sentiments are favourable, with factors around economic activities, freight rate movement and farm output reflecting optimistic picture. The segment is likely to outperform the OE segment in FY2027 supported by inherent factors like replacement cycle, safety awareness and regulatory forces.

Premiumisation is evident in vehicles and tyres alike. How is the shift towards larger rim sizes, radialisation and higher-value products shaping revenue growth versus volume growth in FY2026–27?

A change in product mix has been observed in recent times. Rising preference for utility vehicles, premium bikes and electric vehicles have resulted in changes to the average selling price (ASP) of tyre makers. While these elongates the product replacement cycle over time, higher share of sales of large rim sizes and high-performance tyres results in premium pricing and value growth. That said, pricing pressure because of competition and movement in input prices restricts the premium to an extent, in certain segments.

What impact do you expect from the evolving trade agreements between India and United States, along with the proposed India-EU free trade deal, on tariffs for tyres produced and exported from India?

US and Germany are the top-two destinations for Indian tyre exports. Overall, tyre export volumes grew by around 10 percent in FY2025 and around eight percent in H1 FY2026. The recent signing of India-UK and India-EU deals is a positive as Indian tyres are increasingly getting exported to these regions in recent period, reflecting better acceptance. While the developments on India-US tariff-related aspects are a positive, stability in tariff reforms will be critical towards better visibility of exports.

With exporters pivoting towards Europe, Africa and Latin America, what competitive or regulatory barriers might Indian tyre makers face in these markets over the next 12–18 months?

The prospects of Indian exporters remain vulnerable to the regulatory actions and competitive forces. The US tariff-related developments have made tyre makers in

South-East Asia and China more competitive (as compared to India), although the changes in tariff rates is a positive development for Indian exporters. While a depreciating rupee was beneficial, the recent capping of RodTEP benefits is a negative impacting the competitiveness of Indian tyre makers.

Natural rubber prices have remained elevated and volatile. How do you expect raw-material cost trends to evolve in FY2027, and what does this imply for tyre company margins and pricing power?

Rubber prices largely track the demand-supply factors. The prices have largely been volatile in recent years and were affected by a relatively subdued consumption globally. While the supply will remain influenced by weather and other related factors, the global tyre demand is likely to be relatively better, thus keeping the prices firmer in the coming year.

Beyond rubber, inputs such as carbon black and crude-linked derivatives are cyclical as well. Are tyre manufacturers adequately positioned to manage input volatility through sourcing strategies or pass-through mechanisms?

To protect the margins, tyre makers have resorted to better production planning, maintaining optimal inventory and altering the sourcing strategies. That said, the earnings profile of tyre makers remains exposed to any sharp volatilities in input prices, especially replacements.

Industry capex has remained steady, focused on radial capacity and premium segments. Do you foresee a new investment cycle in FY2027–28, or will companies prioritise balance-sheet discipline amid demand normalisation?

The industry’s capex spends are estimated at 8–10 percent of revenues with sizeable investments towards expansions in passenger vehicles and trucks and bus tyres, along with continued focus on debottlenecking, maintenance and R&D activities.

Looking beyond demand and costs, what are the most significant structural challenges facing the Indian tyre sector over the next three to five years – technology shifts, sustainability mandates or global competition?

Multiple trends are emerging in the auto industry, like vehicle premiumisation, changing powertrain mix, fluctuation in adoption of EVs across different product segments etc. In this backdrop, and coupled with global geo-political uncertainties and climate changes, tyre makers face challenges around business strategies. Strengthening technological capabilities, investments in premium performance tyres, enhanced usage of AI for operations, streamlining supply chain activities and diversification are the likely key focus areas for Indian tyre makers.

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Mahatma Gandhi University’s School of Polymer Science and Technology has announced the opening of admissions for its Executive M.Tech programme in Polymer Engineering and Nanotechnology for the 2026–27 academic year, targeting working professionals and industry-sponsored candidates seeking advanced technical specialisation.

The programme will be conducted at the Convergence Academia Complex, located on the second floor of the university campus at Priyadarshini Hills, P.O. Kottayam, Kerala. The university, which is graded as a Category 1 autonomous institution by the University Grants Commission (UGC), is positioning the course as an industry-aligned offering designed to bridge academic research and industrial application.

Admissions are currently open, with the last date for submitting applications set as 30 April  2026.

Designed For Industry Professionals

The Executive M.Tech programme is tailored specifically for working professionals, reflecting the growing demand for flexible, advanced education pathways within technical industries. Sponsored candidates from organisations, as well as direct applicants with relevant professional experience, are eligible to apply.

Candidates must hold either an M.Sc. or B.Tech degree in relevant science or engineering disciplines. While preference will be given to employed candidates, others may also be considered subject to seat availability.

The programme offers a total of 24 seats, including 20 allocated for Indian candidates and four reserved for international applicants, signalling the university’s intent to attract a diverse cohort.

Interdisciplinary Focus

The curriculum emphasises an interdisciplinary approach, combining Polymer Engineering, Nanotechnology and Materials Science. This structure reflects broader shifts within manufacturing and materials industries, where cross-domain expertise is increasingly critical.

Courses will be delivered by a mix of academic faculty and industry practitioners, ensuring exposure to both theoretical frameworks and real-world applications. The university highlights that this dual approach is aimed at equipping professionals with practical insights alongside advanced technical knowledge.

Programme Highlights

Among the key features of the course are its focus on industry relevance and its alignment with evolving technological demands. The programme is structured to support professionals in enhancing their capabilities without stepping away from their careers.

The university notes that the course is particularly suited to those looking to deepen expertise in polymer science and nanotechnology while remaining engaged in industrial roles.

Application Process

Applications for the programme must be submitted online via the official application form:
https://forms.gle/yfTeeevAVLzmuK8P9

Prospective candidates can access additional information through the School of Polymer Science and Technology’s website at spst.mgu.ac.in.

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TVS Srichakra Limited has assumed contractual rights and obligations from its US subsidiary under an agreement with Bristol Motor Speedway LLC.

The Madurai-based company said in a regulatory filing that it executed an assignment and assumption agreement on April 10, 2026 with Super Grip Corporation and Bristol Motor Speedway. Under the arrangement, TVS Srichakra takes over all rights, duties and obligations previously held by Super Grip Corporation under a suite licence agreement dated February 16, 2024 and a sponsorship agreement dated April 5, 2024.

The company will pay USD 1,033,250 in instalments over the remaining term of the agreements. No consideration is payable to Super Grip Corporation for the transfer.

The original terms of the licence and sponsorship agreements remain unchanged, and the arrangements are set to run until December 31, 2028.

TVS Srichakra said the move was intended to enhance the visibility and reach of its brands in global markets.

Super Grip Corporation is a wholly owned subsidiary of the company, while Bristol Motor Speedway is an unrelated third party. The assignment between TVS Srichakra and Super Grip Corporation qualifies as a related party transaction and has been conducted on an arm’s length basis.

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Autopromotec has officially confirmed a new management structure, appointing Dr Enrica Lazzarini as Chief Executive Officer and Dr Guido Gambassi as Chief Strategy Officer. The decision, confirmed by the Board of Directors, reflects a strategy focused on leadership continuity by promoting experienced and respected internal figures already well established in the automotive equipment and aftermarket sector. The new leadership roles take effect from May 2026.

Under the new organizational chart, Dr Lazzarini was named Secretary General of AICA, the Italian Association of Automotive Equipment Manufacturers, on 5 March 2026. AICA jointly owns the Autopromotec trade fair with AIRP, the Italian Association of Tyre Retreaders. The next edition of the biennial exhibition is scheduled to take place from 26 to 29 May 2027, at the BolognaFiere exhibition centre.

Dr Gambassi now adds the CSO role to his existing responsibilities, which include serving as CEO of EditProm, the publisher of Pneurama magazine, as well as Secretary General of both AIRP and Federpneus, the National Association of Specialist Tyre Retailers. Federpneus operates its training workshop at the Casa Autopromotec headquarters.

The outgoing CEO and former AICA Secretary General, Renzo Servadei, who stepped down for personal reasons, has fully endorsed the new appointments. He has pledged his support for the upcoming 2027 edition to ensure strategic and organisational continuity across all entities responsible for the fair.

Dr Lazzarini said, “I welcome this new challenge with great enthusiasm and am honoured by the trust placed in me. Coordinating the next edition of Autopromotec will undoubtedly be stimulating, and I am certain that with the support of this team, which has been well-established for years, we will organise an event that lives up to the expectations of our exhibitors and visitors. The automotive sector is today increasingly characterised by structural and extremely dynamic innovations, which require the ability to react and analyse. Changes are happening so rapidly that it is now essential and fundamental to see and experience all the innovations first-hand, an opportunity that arises exclusively at events such as those made possible by Autopromotec.”

Dr Gambassi said, “What makes Autopromotec the most specialised trade fair in the sector is its ability to integrate innovations and market trends, thanks to its unique nature. Having a membership base and hosting so many organisations embedded within the fabric of the sector within its premises ensures that Autopromotec continues to be an international benchmark.”

Servadei said, “It is with great emotion and deep gratitude that I step down from both roles I have held to date, confident that the new management team at Autopromotec will carry forward the traditions that make our event unique whilst incorporating all the innovations the future holds. I am delighted that internal staff have been promoted, bringing with them their wealth of connections and relationships, which are our greatest asset: the ability to identify, understand and develop the needs of our exhibitors.”

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The Goodyear Tire & Rubber Company has appointed Travis Parman as its new Chief Communications Officer. Parman will report directly to Chief Executive Officer and President Mark Stewart as part of the executive leadership team.

In his new role, Parman is tasked with leading all global communications functions, which encompass media relations, associate communications and corporate reputation management. A key priority will be articulating Goodyear’s ongoing transformation journey and supporting the broader business strategy as the company pursues its vision of becoming number one in tyres and service.

Parman brings extensive experience from senior communications roles at major organisations, including Nissan Motor Corporation, General Motors, Renault Group, Ally Bank and most recently PMI U.S. His background includes guiding companies through complex changes and helping leadership teams connect strategic objectives with operational performance.

Stewart said, "Travis brings deep experience leading communications for complex, global organisations, which will help us engage both internal and external audiences as we share our story – building on the momentum of Goodyear Forward with a continued focus on operational excellence, delivering products that meet customer needs and driving sustainable growth. The communications function is critical to aligning our vision, core values and shared global objectives while building and protecting Goodyear's reputation and market positioning."

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