Due to strong domestic OEM, replacement tyre demand and accelerated expansion of vehicle exports Indian tyre industry production volume is expected expand approximately 4 times by 2047. During this period revenue is expected to grow 12 times to Rs 1,300 thousand crore industry by 2047 as per a joint report by the Automotive Tyre Manufacturers Association (ATMA) and PwC India titled, “Viksit Bharat 2047: Vision and roadmap for the Indian tyre industry”.