ATMA said that in the past 10 years, Apollo has moved up four places, while JK Tire has moved up six places. CEAT, on the other hand, rose 13 places, while leading team BKT jumped 14 places. It added that MRF ranks third in Asia after Bridgestone and Yokohama in terms of the number of factories.
Five Indian companies are among the top 30 tyre manufacturers in the world, according to a report by the Automotive Tyre Manufacturers Association (ATMA). In ATMA's '38th Tyre Business Journal Global Tyre Report' based on 2022 revenue, Apollo, MRF, JK Tire, CEAT and India's Balkrishna Industries (BKT) featured in the top 30 list.
According to the report, Apollo ranked 13th, MRF 14th, JK Tire 19th, CEAT 22nd and BKT 27th in the top 30 list.
Michelin, Bridgestone, Goodyear and Continental continue to occupy the top four positions, according to the report.
ATMA CEO Rajeev Budhraja said in a statement, “For a few years, we have had only three Indian companies in the top 30 list. CEAT made it to the coveted list two years ago and now BKT is also on top,"
“Indian companies are also converging with the world when it comes to R&D spending,” ATMA said, adding that two Indian companies, Apollo and CEAT, are also among the top 20 when it comes to ranking R&D as a percentage of sales.
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