After being selected as ATMA Chairman, Satish Sharma, President (APMEA) & Whole Time Director, Apollo Tyres, has big plans for the automotive and tyre industries, from enhancing exports to self-sufficiency in Indian rubber. He shares his views on collaborations in the tyre industry, the challenges of the sector and the problem of India being used as a dumping ground. Read on…

How have your priorities changed ever since being selected as the ATMA chairman?
I was the ATMA chairman even four years ago, and this is my second tenure. In terms of priorities, I want to pick up from where I left. At that point, we had started this whole journey of improving our exports. In fact, I was on record to say that the tyre industry could be the poster boy for the Indian government.

Looking back, I’m very happy to see that the exports have improved rather well. And this is just the beginning; we could do much more. Therefore, one priority is to see how we enhance our exports significantly from where we stand today.

The second priority is that a lot of regulations are on the anvil for the vehicles and the tyres as well. So my idea would be to engage with all the stakeholders and get them fast paced rather than going about it in a slow manner. Plus, I would like to get all views on board, optimise them for the industry, the government and different stakeholders and get them rolling, working towards a seamless transition for the regulations and betterment of all the stakeholders.

As for my third priority, it is the self-sufficiency point of the Indian rubber. The Indian rubber is a key priority of the commerce minister, Piyush Goyal, to narrow the gap between domestic demand-supply of natural rubber, which is around 35 to 40 percent. Hence, some of us have come together at his behest and have contributed in monetary terms to help the rubber board to do serious plantations in the potential of the North East. That corpus has been formed and one year of it has gone by. The acronym is NEMITRA. It is a collaboration between the tyre industry and the rubber board, under the aegis and direction of the commerce ministry. So we are very hopeful that the work we put in is going to yield results and India will be able to narrow this deficit between production and consumption.

Speaking of production and consumption, are you seeing a revival in demand?
The demand recovery for tyres is always an organically growing demand. If you look at the GDP of the country, it’s rather sectoral and a K-shaped recovery. Therefore, some sectors associated with infrastructure, e-commerce or the real estate sector, etc. are doing very well. However, at the same time, there is very steep inflation, and there is a possibility or worry that this inflation might destroy demand. The entire supply chain has to pass through this inflation and, finally, it has to be borne by the consumer. Whether the consumer reduces consumption or continues to consume at the rate at which he/she was before is a bit of a worry. But so far, the demand is holding on at a broader level.

OEMs are reviving as the chip shortage is getting under control. We are seeing CVs – a cyclical business – at the beginning of its upcycle, which is good news for them. In PVs, the supply chain issues are getting eased off. Plus, the tractor sector is also reviving; with a good monsoon forecast, the rural economy should come back – maybe not to the same level from two years ago, but still reasonably good.

With the current world situation, from the Covid pandemic to the Russia-Ukraine war to high inflation rates, do you think there is a need for more collaborations between tyre companies?
Collaborations have to be there, but they have to be very finely defined. Collaborations can always be on larger subjects like sustainability or raw materials, where research work can be done, resulting in collaboration. So these are areas where a deeper collaboration will help the industry. But it cannot be used to tackle inflation – that has to be left to market forces.

What are the present challenges you see in the tyre industry that need to be addressed?
The organic challenges include preparing ourselves for electrification and the changing regulatory framework. However, the key challenge for the Indian tyre industry right now is inflation. Our balance sheet sizes have halved over the last year. Moreover, the profitability has reduced significantly. There is a significant phase lag to the cost push. Therefore, these key challenges are what we really need to take care of in the short-term.

There has been a ban on Chinese tyres. How is this impacting the Indian tyre industry?
All global tyre companies that have come in India are now producing their tyres in the country. And therefore, it is self-sufficient as far as tyres are concerned. So technically, imports are not required to that extent, from that point of view.

The problem comes about when we are used as a dumping ground and the economic value of everything that has been put into place gets destroyed. And moreover, the promise we have for the Indian industry is getting short-changed. So that’s the argument.

I was telling my industry colleague, whose company is entering the US market, to not go the wrong way. But, in fact, to go, set up and position the Indian product and brand name the right way and to not spoil the market and get branded as the next cheap manufacturer after China. Because if one does it that way, then he/she is going to spoil it for everyone.

And, truth is, we can really do it the right way. We do have a cost arbitrage. Hence, we can give a more honest price internationally and give tier 1 quality at a tier 2 price. However, if one were to position oneself at the bottom of the barrel, then it will spoil everything.

What is happening to recycling and renewable sources to make tyres? How are things shaping up in India?
One regulation is on the anvil, which is the extended producer responsibility. It is in the draft stage and we are in discussion with the government. Fortunately, by the nature of our country, there is a self-recyclability of any and all products. Of course, this is in the unorganised segment, and we don’t talk or hear about it. But we have seen tyres being sold to make something as useful as slippers. So it finds its own value.

But there are no satellite pictures available in India showing dumps and dumps of used tyres lying anywhere; you will find that in the Middle East. But the government is organising this whole thing, and we have the extended producer responsibility coming – it will have a far higher recyclability and will focus more on renewable energy and getting green raw materials. Plus, it will prioritise the increase in the usage of recycled tyre parts.   

Titan International, a major global manufacturer of wheels and tyres for off-highway equipment, has secured expanded production rights for the Goodyear brand across multiple segments while renewing its existing farm tyre licensing agreement.

The deal extends Titan’s Goodyear brand manufacturing rights to include light construction, industrial, all-terrain vehicle (ATV), lawn and garden and golf tyre categories, significantly broadening the company's market reach.

The Illinois-based firm will continue to produce agricultural tyres under the Goodyear Farm Tyres brand, maintaining its presence in a sector where it manufactures products ranging from small implement tyres to the massive Goodyear Optitrac LSW1400/30R46, which features the company's proprietary Low Sidewall Technology.

"We are excited to expand our rights into new segments, as this positions us to serve our customers better and seize emerging market opportunities. Our research and product development teams are already working on new tyre designs incorporating innovative tyre technologies for the lawn and garden segment," said Paul Reitz, President & CEO of Titan International, Inc. "In addition to our newly acquired rights, we are reaffirming our commitment to the farm tyres segment, a vital part of our business."

Industry analysts note the expansion comes as demand for specialised off-highway tyres remains robust across construction, agriculture and recreational sectors despite broader economic headwinds.

Strategic growth initiative

The licensing expansion aligns with Titan's strategy to offer comprehensive wheel and tyre solutions across forestry, powersports, outdoor power equipment, agricultural, earthmoving, and light construction markets throughout the Americas, Europe, Africa and Oceania.

The company did not disclose the financial terms of the licensing agreement with Goodyear.

Titan International has manufactured Goodyear-branded farm tyres since 2005, when it acquired Goodyear's North American farm tyre business. It has gradually expanded these rights to other regions, including Latin America, Europe, the Middle East, Africa, Russia, and Australia.

Targets International Expansion With Robust Fy25 Performance

CEAT Ltd, the RPG Group’s flagship tyre company, reported a capital outlay of INR 9–10 billion  for FY2025–26, keeping with its capacity expansion strategy and global integration. This follows a strong FY25 performance of record revenues and double-digit growth across segments despite headwinds in overseas markets.

The business ended FY25 with consolidated revenue of INR 132.18 billion, up 10.6 percent year on year, and Q4 revenue at INR34.21 billion, up 14.3 percent compared to the corresponding quarter previous year. The standalone full-year EBITDA was INR 15 billion, and the Q4 operating margins improved by more than 100 basis points sequentially at 11.5 percent.

"We incurred capex of INR 9.46 billion in FY25 and expect a similar investment of INR 9–1.0 billion in FY26," said Kumar Subbiah, Chief Financial Officer of CEAT. “Our focus will remain on expanding capacities, particularly at the Ambarnath and Chennai facilities, and funding the integration of the recently acquired Camso compact construction business.”

In FY25, CEAT depreciated assets amounting to INR11.40 billion. Much of its FY26 capex will also fund equipment modernisation and normal maintenance at its Sri Lankan operations under Camso, putting a cost estimate of INR1-1.25 billion a year over the next two years.

The Camso acquisition, which is effective from Q2 FY26, is likely to significantly enhance CEAT's global presence. "Integration work has started in full acceleration," said Arnab Banerjee, Managing Director and CEO. “Initial focus will be on customer retention and business continuity, with consolidation expected to double Camso’s current capacity utilisation over the medium term.”

Despite international uncertainties, CEAT renewed its medium-term global growth forecast. Exports are expected to form 25–26 percent of the revenue post-Camso integration. Turbulence still exists in Latin America and North America due to tariff policies and exchange rate weakness. CEAT, however, has reported consistent performance in Europe, the Middle East, and Southeast Asia.

CEAT also indicated a likely raw material cost stabilisation in Q1 FY26, potentially softening by Q2, to support its margin growth initiatives. The gross margin was 37.5 percent in Q4 FY25, and the target was above 40 percent in the near term.

Banerjee signaled ongoing activity in electrification, premiumisation, and digitalisation. "With our technology outlays and new product introductions, we are hopeful of sustaining 20–25 percent market share in electric vehicle segments," he asserted.

The debt levels of the company are under control. The gross debt as of 31 March 2025 was INR 19.28 billion with a debt-to-EBITDA ratio of 1.3x and debt-to-equity ratio of 0.44x. Subbiah added that CEAT's strong cash generation will allow it to finance both organic and inorganic growth without materially diluting leverage metrics.

Black Swan Graphene Inc. (Black Swan) has appointed Jobin George as Technical Sales Manager for the Europe, Middle East and Africa (EMEA) region with immediate effect. This significant move, which supports Black Swan's worldwide commercial team as it promotes adoption of its graphene-enhanced products, follows Dan Roadcap’s appointment as Head of Technical Sales and Business Development.

George has an MBA from ICFAI University in India, a Post Graduate Diploma from the Central Institute of Petrochemical Engineering and Technology in India and a Bachelor of Science in Chemistry from Mahatma Gandhi University, India. He brings with him more than 20 years of global expertise in project management, business development and technical sales. George has had positions at Sands International Plastics and Sojitz Corporation in the United Arab Emirates, as well as Aquapak Polymers and H-Pack Global Ltd.

Simon Marcotte, President and Chief Executive Officer, Black Swan Graphene, said, “The addition of Jobin to our commercial team marks another important milestone in our global expansion strategy. His international experience, particularly in the EMEA region, and his proven ability to translate technical capability into commercial success make him an ideal fit as we continue scaling our graphene business.”

George said, “Black Swan is positioned at the forefront of advanced materials innovation. The opportunity to contribute to the adoption of such a transformative technology across the EMEA region is tremendously exciting. I look forward to engaging with our existing customers and partners, along with exploring opportunities for new clients as well, to showcase the performance and value of Black Swan’s graphene solutions.”

The Tire Recycling Foundation (TRF), a joint initiative led by the U.S. Tire Manufacturers Association (USTMA) and the Tire Industry Association (TIA), has appointed Stephanie Mull as its Executive Director.

Mull will spearhead the organisation's initiatives to promote innovation and invest in the circular tyre economy, expand the market for end-of-life tyres and support studies to fill in the gaps in the sustainability and tyre recycling supply chain in her new role at TRF. Mull brings a wealth of experience in the sustainability field and a broad understanding of fleet management and decarbonisation, including converting fleets to electric and alternative fuel vehicles. In her role as PepsiCo's Sustainability Senior Manager, she oversaw major electrification projects, obtained grant money and spearheaded efforts to lower Scope 1 and Scope 2 emissions throughout Pepsi and Frito-Lay's North American fleets. Mull oversaw the local government's efforts to upgrade municipal vehicles to greener technology and volunteered to help the Red Cross electrify its fleet.

Anne Forristall Luke, TRF Board President, said, “Stephanie Mull brings the passion, in-depth expertise and history of excellence that will drive TRF and its partners to achieve critical tyre recycling and reclamation milestones. We are thrilled to have her join the Foundation as we advance tyre sustainability while tackling the challenges and opportunities ahead.”

Mull said, “I’m honoured to join the Tire Recycling Foundation and support its sustainability mission to achieve 100 percent end-of-life tyre circularity. TRF is a vital nexus of expertise and leadership, and I look forward to working with all stakeholders in developing tyre recycling solutions that pave the way for a more sustainable future.” 

The Tire Recycling Foundation is dedicated to achieving 100 percent circularity for end-of-life tires by advancing innovation, building partnerships and supporting scalable recycling and reclamation solutions. Consisting of 15 global industry leaders with expertise in the manufacturing, recycling and transportation industries, TRF’s Board primarily focuses on the acceleration and adoption of emerging end-of-life tyre market technologies like rubber-modified asphalt (RMA).