Ace Tyres Ltd are into manufacturing tyres is a group company of Exel Rubber Ltd.
India Tyre industry is seeking an increase in the customs duty on Tyres from 10 per cent to 20 per cent. They also urged the government to put imports of tyres under negative list in all trade agreements. The industry has demanded import duty hike on tyres to bring them at a par with natural rubber, the raw material, so as to provide a level-playing field to the domestic manufacturing. In its pre-budget submission, Automotive Tyre Manufacturers' Association (ATMA) has stated that the import duty on natural rubber (NR) currently is 20 per cent while tyres can be imported at a rate of 5 per cent or even nil rate of duty under various Trade Agreements. It said that under SAFTA, tyres can be brought in at 5 per cent duty from Pakistan and Sri Lanka. For other SAFTA countries there is nil d
Tyre industry is seeking duty free imports of raw material rubber. Currently, domestic rubber industry is not sufficient to meet its needs. The tariff of 25 per cent import duty is hurting its price competitiveness vis-à-vis exports. Tyre industry consumes around 65-70 per cent of natural rubber. A drastic drop in deficit as projected will only increase the industry?s dependence on expensive imports.