Demonetisation effect: Import of cheap tyres from China down 30%
Tuesday, March 21, 2017, 10:38 AM
India’s Rs 50,000-crore tyre industry must be thanking demonetisation. According to industry estimates, imports of the low-quality truck and bus tyres from China have come down drastically post demonetisation. Earlier, the imports were around 1.3 lakh tyres a month, which came down to less than one lakh. Demonetisation sucked out the cash from the system thus dealing a body blow to illegal import.