Introduction

Virtually no other technical achievement has impacted Western society more profoundly
than the commercial introduction of the pneumatic tire more than a century ago. Thereinvention
of the air-filled tire by the Scottish-born veterinarian, John Boyd Dunlop, in1888 changed not
only the way people of that day travelled but also where and how we live today.
Almost everything we eat, wear or otherwise consume now comes to our door by a rubbertired
vehicle. What's more, if it were not for the pneumatic rubber tire, highwaytransportation - and
modern life as we know it - would not be feasible. Increased mobility,made possible by the
pneumatic-tired automobile, has permitted urban populations to into suburbs rather than having
to crowd together in cities to be close to the workplace. Family diets are no longer limited to
whatever produce happened to be in season and available locally.
Prior to the modern automotive era, people seldom left their native towns or farms travel was
difficult, even for short distances. Travel for pleasure was a luxury enjoyed only by the rich and
leisured. It simply wasn't an option for most working people.
The practical world consisted of the distance they could travel in a day or two by whatever
of transportation happened to be available.Rail transport offered the only means of long-distance
travel by land, and the horse provided most day-to-day transportation. For most people, life's
choices were few. In rural areas, generation after generation lived and died in their native village
without venturing more than a days walk from their home. Those born to cities often were
obliged to live in dingy industrial sections in order to be near the factories where they worked.
With no suburbs to speak of, the best neighbourhoods were those upwind of the factories as the
winds carried soot and industrial fumes over the homes and yards of the less affluent.With the
turn of the century, pneumatic-tired vehicles began widening the horizons of average people and
altering their way of life. For aeons people had been familiar with an area within a radius of
perhaps five miles from their home. The railway allowed travel to other centres perhaps thirty or
fifty miles distant but this new form of travel, at first by bicycle and then increasingly by car,

filled in the gaps. For the first time, routes were adequately mapped and distances plotted
between places that previously had held little relevance for a less-mobile population.
With widespread use of the automobile came the need for improved roads and sturdier
bridges, thereby creating additional means of employment. New service industries sprang
up around the automobile and tourism. Road signs went up, and many towns and cities
began to rely on the money brought in by visiting motorists. Gradually, cities themselves
began to sprawl as an increasing number of residents built homes and sought different
lifestyles in the suburbs.
The tire itself developed gradually over a long period and even now it is constantly
improving. There have been no dramatic advances in tire design (except perhaps the
introduction of the radial tire) but innovations in machinery, the development of new
materials and the entrepreneurial efforts of many of the companies in the industry have all
made important contribution to the tire as it is today.
This survey of tire development puts many of these achievements in context. It is not a
history of rubber but concentrates on the most important product made of rubber - the
pneumatic tire. The history of rubber is a fascinating subject in itself. For those interested
in the wider subject an excellent source is the idiosyncratic and very enjoyable BouncingBalls website.

Vulcanisation 1839

Graphic 1 - Charles Goodyear

1800 - 1860
Until the development of the vusatiolcanin process by Charles Goodyear, rubber was an
interesting but not very practicable material - sticky when hot and brittle when cold.
Vulcanisation or the process of changing its physical properties through the application of
sulphur and heat, changed this dramatically and rubber came into widespread use. Charles
Goodyear ran a successful hardware business in Philadelphia and became interested in rubber as
a material of the future with enormous possibilities. The big problem that everyone recognised
was its instability, particularly the tendency to go soft andsticky. His business failed, in one of the
periodic economic crises of that time, but he persevered with his experiments.Some were
partially successful to the extent that hereceived international recognition and a letter of
commendation from President Andrew Jackson. However,each development had some weakness
that preventedwide scale adoption. Various additives were used in different proportions and
different ways - magnesia, lime,bronze powder and nitric acid but none of them gavepermanent
improvement. Eventually he tried sulphur
after seeing a colleague use it for drying rubber. Even that didnt work at first but when he
accidentally dropped some on a heated stove he saw that it was perfectly cured. He then
turned his attention to the heating process, experimenting with different temperatures and

different heat sources. eventually settling on steam heating for four to six hours at a
temperature of 135 degrees Centigrade.
However, he was not a natural businessman and although he took out a patent in 1844
(US Patent 3633) and established a factory with his brothers, he never made much money
from his innovation. Indeed he spent many years defending his patent. One particular
problem was in England, at the time the manufacturing centre of the world. His agent had
shown samples of vulcanised rubber to Thomas Hancock in 1842. Hancock was a partner
of Charles Mackintosh (of raincoat fame) and was a rubber specialist, owning the largest
rubber goods manufacturer in the world. In 1843 Hancock filed for a patent for the
Charles Goodyear
vulcanising process in November 1843, eight weeks before Goodyear. In the resulting
court case Hancock claimed to have been experimenting with sulphur for several years
and he already had several successful rubber machinery inventions to his name. With that
claim, and his financial resources, the case was settled in his favour, and Goodyear was
unable to claim royalties in Britain. Nevertheless, he did receive royalties from US
manufacturers, particularly after an 1852 court case where his patent was upheld. He was
$200,000 in debt when he died in 1860 but the royalties paid off these debts in time and
his family were able to live comfortably.

Pneumatic Tire v2 1888

A reproduction of Dunlops first

pneumatic tire

John Boyd Dunlop, a Scottish veterinarian, re-invented the pneumatic tire in Belfast. His
son, on his tricycle, found the cobbles on the Belfast streets gave an uncomfortable ride
and his father devised a substitute for the solid rubber tires. He put together a rubber tube with
a one-way valve for inflating, covered it with a rubber casing, and attached it to the tricycle's
rear wheels with wrappings of tape.Dunlop began to develop his idea andpersuaded a local firm,
W.Edlin & Co. to make bicycle frames to fit the new tire. He patented
the new tire on December 7th, 1888. These fat"mummy" tires were ridiculed at first, but, in1889
a well-known local cyclist won a race atCherryvale and opinions quickly changed.he tire rapidly
gained favor with racing cyclists, who appreciated both the smoother rideand the easier pedaling
pneumatics produced.

Tread improvements 1904

Until now tyres had a round cross section but cars were getting bigger and more powerful.
In 1904 Continental in Germany and Michelin in France introduced the flat tread. Because
this provided a bigger contact patch the driver had much more control over acceleration,
steering and braking. As with most of these early developments the United States followed
a few years later. In 1906 the Diamond Rubber Co and Gormully & Jeffery Manufacturing
Co demonstrated this new design in America. However, these first flat treads were exactly
that - they were flat.The first British patent for a rubber non-skidtread was granted in 1892.
However, patterned tread designs evolved hand-in-hand with manufacturing technology. In
Germany,Continental A.G. moulded a grooved tread autotire in 1904. Goodyear developed a
machine in1908 for cutting grooves in the previously smooth tread area.Once flat treads and
patterns became commonplace, companies used these patterns to differentiate their own products
and to claim particular attributes. In order to publicise theirown design Firestone Tire & Rubber

Co.moulded raised letters on the tread surfacethat spelled "NON SKID." In 1909 Continental
became the first company to design and market a tire specifically designed for use in winter
snow and mud

Market Development 1914 1940

The First World War hindered the growth of the civilian market for automobiles but
stimulated development in better materials and designs. Even though trucks were used
extensively on the Western Front horse transport was still dominant. However, perhaps the
most influential result of the war was the introduction it gave to many ordinary people to
the possibilities of motorised transport. Many soldiers were taught to drive and many more
were exposed to these new and powerful machines.
\
Manufacturing improvements 1916
Although new tire design had largely stopped whilst the war was on, there was
considerable interest in improving themanu facturing process for tires. A major
advance came about in 1916 whenF.H.Banbury patented what became known
as the Banbury Mixer for producing compounds. Previously open mills had

been used to mix the various materials specified into a homogenous mass. These were open to
the atmosphere and gave off both dust and fumes and there was always the possibility of injury
to the operative.The new design used blades rotatinginside a closed chamber rather than rollers.
This was far more productive than the old method and it also virtually eliminated the
variability of human control.Considerable progress was being made
with synthetic rubbers as discussed in the last section but there were also other chemical
advances. In 1924 antioxidants were introduced to reduce the degradation caused by exposure to
oxygen, ozone and ultraviolet rays. The US Rubber Co. and B.F.Goodrich developed these
independently

Different Types of Tyres

Choosing the right type of tyre for your car is important to get the intended performance from
your car. Read on to know more.

Gone are the days where one could choose between a set of Bias or Radial tyres. In todays
world, the sheer variety of tyres you can buy depending on what their specialist applications
are is long and varied. One can easily walk into a dealership today and replace your
manufacturer provided tyres for a set of high performance ones that can completely change
the way your car looks or performs on the road.
Basically the tyres are divided into Standard and Premium categories. Premium category is
further divided into Sporty and Touring category. In the premium category, some special
construction types are available i.e. High Speed Tyres and Run Flat tyres. In the Touring
category, Eco-Friendly tyres are available. For SUV and MUV, a different classification is

available. Depending on percentage of On/Off usage, categories available are A/T (All
Terrain), H/T (Highway terrain), and H/L or H/P (Highway Luxury/ Highway Performance)

Here is a list of tyres you can buy to get the best out of your car.
Standard tyres: Also known as Stock Tyres or General Usage tyres, these are usually the OE
fitted tyres you get with the car. Same specification tyres are also available in aftermarket.
These are the tyres to go for if you are satisfied with your current tyre performance and your
expectations from tyres are not very demanding. Since these are tested and approved by OE
manufacturers, most of the performance parameters are optimized for general usage. These
tyres generally do not tax your pockets as much as premium tyres!

Touring tyres: Comfort is the main emphasis of these tyres. Comfort not only stands for
driving comfort (Less vibrations), but also lower noise levels. Such premium tyres are
usually preferred by people using premium cars mainly for going to office or travelling with

the family. The tread patterns of Touring tyres are less aggressive than Sporty tyres and have
certain design features on tread which create lesser noise. Top category within Touring tyres
may have asymmetric patterns and may be even asymmetric construction varying between
Outer and Inner Sides.

Sporty tyres: Also known as Performance Tyres, these are designed for improving the grip
and handling of a vehicle are called performance tyres. Made of softer tread compound
rubber, they are designed to give maximum grip at high speeds especially during dry and wet
weather conditions. Most sports cars come fitted standard with these superior performance
tyres to improve their handling and cornering ability. These tyres are also available in the
aftermarket for drivers who want better handling and performance from their vehicles. In
fact, for people who use their vehicle in tarmac based motorsport applications, a sporty tyre
is the cheapest and most preferred way to cut down on lap times. These tyres usually come
with aggressive tread patterns than standard and touring tyres, which make them a bit noisy
at high speeds.

High Speed tyres : High speed tyres are available in Touring and Sporty patterns Their
construction is more durable that can resist high temperatures due to high-speed rolling
resistance and deal with strong G forces under hard cornering. Manufacturers often use their
findings from motorsport applications to make these high performance tyres for road use.
One can often find these high performance tyres fitted on sports cars, supercars and coupes
that are capable of higher speeds than a standard family sedan.
One must remember though that although the technology exists for tyres to achieve speeds
well above 300kmph, fitting such tyres in your average hatchback is pointless. Due to price
constraints in new cars, one will often find manufacturers providing tyres that are capable of
handling speeds slightly higher than what that particular car can achieve.
Here is a chart denoting tyre speed ratings commonly available in India:
Speed
Symbol

Max speed (Kmph)

Category

160

Available in MUV tyres

180

Available in standard tyres

190

210

Speeds of H & above are considered high

240

speeds

270

Available in Premium category tyres and

300

premium/ luxury imported cars

Eco-friendly Tyres : It's not just automobiles that have kept pace with the times and increased
environmental pressures to become environment friendly. The tyres they ride on, too, have

become more ecofriendly. Essentially, ecofriendly tyres help reduce fuel consumption by
offering the lowest rolling resistance possible. Low rolling resistance, as the name suggests,
is achieved by reducing friction losses in the compounding.
Currently the Eco-friendly tyres use silica to a tyre compound which allows tyre makers to
make low-rolling resistance tyres with adequate grip. Tyre manufacturers have also looked at
optimising design, contour, compound and tread pattern, and took a completely new
approach to all four components of the tyre to achieve both fuel efficiency and optimum grip.
In India, fuel expense per year is several times that of expense on tyres. Therefore savings
through Eco-friendly tyres are much higher than the premium paid for these tyres.
Run Flat tyres: Run flat tyres are available in premium category (Both in Touring and Sporty
types) They are designed to minimise loss of handling of a vehicle after a tyre puncture has
occurred. It allows the car to be driven on the punctured tyre so that the driver does not have to
change the tyre. However, after a puncture has occurred it can be driven only for a short distance
(Typically about 80 kms) and under a limited speed (usually 80 km/h).
Run flat tyres have reinforced sidewalls and additional lateral strengthening to ensure that the
tyre maintains its shape and form without air pressure in it to bear the weight of the vehicle.
Loss of air pressure in a tyre also increases friction and heats up the tyre, therefore, heat
resistant rubber is used to construct a run flat tyre to reduce heat build-up in case of a
puncture. On normal tyres, the air pressure inside the tyre keeps the tyre bead in place on
wheel rim flange. The beads of Run flat tyres are designed to keep the tyre them in place on
the wheel rim flange even while there is no air pressure inside the tyre.
Although run flat tyres with their added stiffness can usually end up improving a cars
dynamic properties, they work best in countries with better road conditions. In India where
highways are riddled with potholes with razor edges, a simple puncture can end up costing
thousands of rupees as a run flat tyre has limited repairability (Maximum 2 punctures
allowed with minimum distance between them as 40 cm after thorough inspection for inside
damage).s

Top 10 compnany tyre industry

1. MRF

Among all tyre companies in India, MRF stands at first position with a market
capitalization of Rs 16,744 Crore. MRF is a leading tyre manufacturing company,
which was incorporated in the year 1946.
MRF is acclaimed worldwide for its high quality tyres, conveyor belts, pretreads
and other products. ZVTS, Wanderer, ZVTV, ZEC and ZLX are some of the
variants of tyre manufactured by the company.
Talking about the performance of MRF in the last financial year, the company
generated revenue of more than Rs 14,600 Crore from sales. Also, the profit
generated by the company crossed the mark of Rs 1,330 Crore.
Market Capitalization: Rs 16,744 Crore

. APOLLO TYRES

Apollo Tyres with a market capitalization of Rs 10,521 Crore stands at 2nd in the
list of top 10 best tyre manufacturing companies in India. Incorporated in the
year 1972, Apollo Tyres has grown into a leading tyre company and also stand
among the largest tyre companies in the world.
With manufacturing facilities in India and The Netherland, Apollo Tyres makes
high quality tyres and sells them in more than 100 countries in the world. Apollo
Tyres in the financial year 2014-2015 generated revenue of more than Rs
13,700 Crore from sales.
Market Capitalization: Rs 10,521 Crore

3. BALKRISHNA INDUSTRIES LIMITED (BKT)

Balkrishna Industries Limited (BKT) is another leading tyre company, which was
established in the year 1987. The company manufacture tyres for heavy
vehicles, that include industrial vehicles and agricultural vehicles.
The company has 5 manufacturing sites in India that employ more than 6,000
people. The company is known for making high quality tyres, which is exported
to more than 100 countries in the world.
Market Capitalization: Rs 6,557 Crore

4. CEAT

4th position of the list is occupied by Ceat, a leading tyre company in India,
which was incorporated in the year 1958. Ceat is a part of RPG Group that has
businesses in different sectors like Informational Technology, Pharmaceuticals,
Engineering, Construction, etc.
Headquartered in Mumbai, Ceat has manufacturing sites in different places in
the country that together produces more than 95,000 tyres every day. Ceat
makes tyres for different vehicles that include Motorcycles, Commercial Vehicles,
Tractors, etc.

Talking about performance, Ceat in the last financial year shown a decent
growth and generated revenue of more than Rs 5,700 Crore. Ceat also has a
strong network in India with more than 3,500 dealers and over 250 distributors,
that cover more than 460 districts of the country.
Market Capitalization: Rs 3,571 Crore

5. J K TYRE

J K Tyre with a market capitalization of Rs 2,631 Crore is placed at 5th position in

the list of top 10 best tyre manufacturing companies in India. Established in the
year 1974, J K is among the top tyre companies in India and has 6
manufacturing plants in the country.
Winner of multiple awards, J K Tyre is known for providing high quality tyres for
different vehicles that include cars, commercial vehicles, farm vehicles and off
road vehicles.
Market Capitalization: Rs 2,631 Crore

6. TVS SRICHAKRA

TVS Srichakra is next on this list, which is a part of TVS Group and came into
existence in the year 1982 and within a few decades has emerged as a top tyre
company in India. The company manufactures tyres of different types that
include motorcycle tyres, industrial tyres, farm tyres, etc.
Market Capitalization: Rs 2,042 Crore

7. GOODYEAR

Goodyear with a market capitalization of Rs 1,425 Crore is ranked 7th in the list
of top 10 best tyre manufacturing companies in India. Goodyear is an American
Tyre Manufacturing Company, which was incorporated in the year 1898.
Goodyear made debut in India in the year 1922 and presently stands among
leading tyres companies in India. The company is known for making quality tyres
for different types of vehicle like cars, farm equipments, commercial vehicles,
etc.
Market Capitalization: Rs 1,425 Crore

8. PTL ENTERPRISES

With a market capitalization of Rs 284 Crore, PTL Enterprises is the next tyre
company in this list. Headquartered in Gurgaon, PTL Enterprises was established
in the year 1959 and started production in 1962.
Market Capitalization: Rs 284 Crore

9. DUNLOP INDIA

Next on this list is Dunlop India, a tyre company in India owned by Ruia Group.
The history of Dunlop India dates back to the year 1896, when the company
started marketing cycle tyres.
Dunlop India is presently a reliable tyre brand in India and hold a decent share of
this segment in the country. The company manufactures different types of tyre,
that include Farm Tyres, Motorcycle Tyres, Bus Tyres, Truck Tyres, etc.
Market Capitalization: Rs 148 Crore

10. MODI RUBBER LIMITED

10th position on this list is occupied by Modi Rubber Limited, an India Tyre
Manufacturing Company known for manufacturing high quality tyres. The
company is growing swiftly and in the last financial year, its total revenue
crossed the mark of Rs 22 Crore.
Market Capitalization: Rs 76 Crore

Indian scenario
The tyre industry has evolved from the more basic cross ply to the more
sophisticated radial tyres. Nylon cords that impart low weight and additional
strength to the tyres have also replaced Cotton ply. This industry is strongly
linked to the automobile sector. This industry is also driven by agricultural
and infrastructural activity that takes place in the region, as these two have
an impact on the transport sector.
India Vs Global
The global tyre market currently is estimated at USD 70 billion while the
Indian market is around Rs. 100 million. The global market is dominated by
Goodyear-Sumitomo with a share of 22%. On the other hand, the domestic
industry is dominated by MRF Ltd. Several mergers and acquisitions have
characterized the global market, in the recent past. This is essentially to
acquire technology, gain wider access to markets and be competitive. Indian
players are also reengineering their businesses and looking at strategic tieups in this segment.
In terms of technology, radial tyre usage has been catching up at a quick
pace in the global market. Almost all the automobile segments have shifted
to radial tyres and the usage of cross ply is restricted to trucks and buses
only. On the other hand, in the domestic market, the radial tyres are being
used only in the passenger car segment while the rest of them still stick to
the cross ply variety. This is because of the lower price of cross ply and its retreadability. In addition, the poor quality of roads in India restricts the use of
such tyres.

Indian scenario

Current Scenario
Pricing Scenario
Pricing is influenced by the demand. Since the tyre demand has not significantly increased in the last
one year, many of the tyre companies have surplus stocks. Hence in the last 2-3 months the tyre
companies are offering discounts between 20 to 40 percent to car manufacturers, but the car
companies are trying to squeeze more discounts. The cheap imports of non-radial tyres from China
are also adding to the present woos of these tyre manufacturers.
Exim Scenario
The export market for India has been predominantly to the USA that accounts for nearly 30% of
exports from the country. These are mostly of the cross ply variety. However, of late Indias share in
the US market is being threatened by China and Japan. These two countries are able to offer prices
that are lower than that offered by Indian manufacturers. In addition, these two nations are
logistically better placed than India when it comes to exporting to the USA. Domestic tyre
manufacturers are also facing threat from imports from China and South Korea. The landed cost of
tyres from China is lower than the Indian price by 30%. In addition, tyres from South Korea are
imported at 30% customs duty while from other countries the duty levied is 35%. Thus in both cases
the domestic tyre manufacturers are feeling the heat.

Government Policies
The recent budget policy of the government has also not brought much relief to the tyre
manufacturers. The major issues of concern are high import duty on raw materials, ban on import
of used tyres, lack of exemption in import duty for steel and polyester tyre cords (currently being
imported) and imports of tyres from South Korea at lower duty.
Crystal Gazing
The future is expected to see many strategic alliances among the domestic and global players to
enable them to have access to latest technology and expand their distribution network. A better
distribution will also ensure easy availability. The introduction of newer auto models will significantly
have a bearing on the tyres demand. The tyre companies will also be looking for tie-ups with the
OEMs for better stability and long-term relationship. For instance, the international player
Bridgestone has a tie-up with Tatas for supply of tyres for its model Indica. Bridgestone has entered
the Indian market in association with Associated Cement Companies and has set up a
manufacturing plant at Kheda in Madhya Pradesh. Hyundais associate tyre manufacturer is
reported to set up operations at Sriperumbudur, in Tamil Nadu.Other multinational tyre companies
are also likely to enter the Indian market viz. Michelin with J.K.Tyres and Pirelli of Italy, with Birla
Tyres. Such arrangements are very essential if one has to remain competitive. The governments
emphasis on improving the road infrastructure will facilitate the road transport sector that in turn
will brighten the prospects of the tyre

industry in the coming years

Policy Environment:
All categories of tyres can be exported freely.
All categories of new tyres can be imported freely. No WTO Bound Rates for
tyres and tubes.
Imports of Second hand/Retreaded tyres (major categories) is restricted
under EXIM Policy and can be done against an import licence.
Tyres imports under Regional Trade Agreements (Asia Pacific Trade
Agreement, Indo-Sri Lanka, SAFTA, India-Singapore, ASEAN, India-Malaysia
etc) allowed at preferential rates of import duty.
All tyre industry related raw-materials can be imported freely (under OGL).
Tyre Industry delicensed in September, 1989.
Natural Rubber (NR) principal raw material of Tyre Industry, is in the
'Negative List` (i.e. not eligible for any concession in Custom duty) under
various Trade Agreements, i.e. India ASEAN Free Trade Agreement, India Sri
Lanka Free Trade Agreement, South Asian Free Trade Agreement (SAFTA),
India Malaysia Comprehensive Economic Cooperation Agreement (CECA),
India-Singapore Comprehensive Economic Cooperation Agreement and IndiaSouth Korea Comprehensive Economic Partnership Agreement (CEPA).
Indian Tyre Industry 2013-14 A Profile
No. of Tyre Companies - 39
No. of Tyre Plants - 60
Turnover + - Rs. 47,500 crores /US$ 8 billion
Export in value terms - Rs. 4800 crores
Production + - 123 million tyres

Exports* - 8.4 million tyres /US$ 830 million

Imports - 8.9 million tyres /US$ 465 million
Product Profile - From Moped Tyres (weighing 1.5 kg) to Giant Earthmover
Tyres (weighing over 1.5 Tons), Steel Belted Radial Truck Tyres, High
Performance Tubeless Passenger Car Tyres and Tyres for Fighter Aircraft of
Indian Air Force

Key issues & Concerns of Indian Tyre Industry

Related to Raw Materials (RMs)
Tyre industry is RM intensive
Raw materials accounts for 72% of Production cost
Natural Rubber (NR) , the principal raw material, accounts for approx. 42%
of RM cost
Tyre Industry consumes over 65% of Total NR consumption in India
(domestic production + imports).

Key Tyre related issues relate to:

Trade Agreements
Tyre Imports

Natural Rubber Imports Imperative Yet Inverted Duty Structure

continues NR Imports are necessary:
To bridge the demand/supply gap
For quality specific requirement of new technology driven Radial Truck & Bus
(TBR) Tyres
To maintain international competitiveness in Tyre Exports
For reasons cited above, Tyre Industry seeks regular supply and competitive
domestic & international pricing/sourcing of its critical raw-material.
Customs duty on Tyres has been reduced over the last few years with no
corresponding reduction in basic rate of customs duty on Natural Rubber

Tyre Imports into India favoured by FTAs

Low import tariffs in India have encouraged large & growing volume of tyre
imports, despite adequate domestic capacity & investments.

Hence, based on compelling need and circumstances, the Government of

India can increase the customs duty on tyres from existing rate of 10% (to a
higher rate of duty) without any corresponding action / explanation to the
world body (WTO).

Service Credit

Definition of input service and its eligibility

under Cenvat Credit Rules, 2004
Condition of non availement of Cenvat Credit
by the GTA Service Provider should be
removed
Cenvat credit for Input services without
making payment
Service tax credit on goods manufactured on
job work basis;
Distribution of credit by Input Service
Distributor
Service Tax ( Finance Act, 1994 & Rules There
under)

Reverse Charge Mechanism imposes

burden of transaction cost and compliance
issues
Key Submission(s)
There is an urgent need to correct the existing (and continuing) anomaly of
inverted duty structure as it prevails for the domestic Tyre Industry by way of the
following:
Reduction in Customs Duty on Natural Rubber, from 20% (or Rs. 30/kg whichever is
lower) at present to a suggested rate of 10% (or Rs.10/kg, whichever is lower).
or alternatively

Increase in customs duty on Tyres from 10% at present to 20%, the same rate as
its principal raw-material (i.e. Natural Rubber);
To meet the definite shortfall between domestic NR production : consumption (gap
in availability for which imports are indispensible), limited quantity of NR import- on
Tariff Rate Quota (TRQ) basis- @ 7.5% for a quantity of 100,000 MT for Fy 14-15.
Such TRQ based volume of NR import be allowed on a recurring basis each year as
per demand : supply gap as established by the Rubber Board (Govt. of India) each
year.

Key Submission(s) (contd)

For other key RMs of Tyre Industry, the duty inversion / anomalies continue and
need to be corrected by way of:

Waiver of customs duty on raw materials NOT manufactured domestically,

Butyl Rubber (HS Code 4002 31 00) present rate of customs duty : 5%
Styrene Butadiene Rubber (Tyre Grade) (HSN 40021900) present rate of custom
duty: 10%.
EPDM (HSN 4002 7000) - present rate of Customs Duty : 10%
Reduction in Customs Duty on key raw materials of Tyres for which the domestic
capacity / production is insufficient to meet domestic demand, i.e.
Nylon Tyre Cord (HSN 5902 1010) Reduction sought from 10% to 5%;
Poly Butadiene Rubber (HSN4002 2000) Reduction sought from 10% to 5%;
Steel Tyre Cord (HSN 7312 9000) Reduction sought from 10% to 5%;
Rubber Chemicals (HSN 38121000/30 10) Reduction sought from 7.5% to 2.5%
Polyester Tyre Cord (HSN 5902 20 00) present rate of customs duty: 5% to 2.5%

Summary
Driven by the strong revival in automotive demand, particularly in the passenger
vehicle and two-wheeler segments and export demand for tyres, the Indian tyre
industry reported a healthy revenue growth of over 25% during fiscal 2010-11. However
surge in input costs especially that of natural rubber (NR) negated any scale benefits,
and resulted in a contraction of industry-wide operating margins by over 500 bps. This
was despite numerous industry wide price hikes, cumulatively amounting to a 15-20%
increase in tyre prices. Despite the worrying macroeconomic indicators and a general
slowdown in domestic automotive sales, the Indian tyre industry continued to post a
healthy 25-30% revenue growth during Q1, 2011-12 supported by strong replacement
and export demand. Domestic OEM demand growth was also healthy at around 15-20%,
albeit weaker than in the previous fiscal. However continued cost pressure from high
cost NR inventory led to a 300-350 bps operating margin erosion, both on a year-onyear (y-o-y) and sequential quarter basis.
During the first quarter of 2011-12, rubber prices have softened (after peaking in April11) with fall in international prices, slowdown in auto demand and drop in crude prices.
However prices of synthetic rubber continued to reign high, following the shortage of its
key ingredient, butadiene. While some relief is expected following successful price hikes
in Q1, 2011-12 and softening raw material prices, the industry is faced with several
headwinds in the form of demand slowdown, threat of imports following removal of antidumping duty and large domestic capacity additions post 2011-12.
For fiscal 2011-12, while ICRA expects moderation in automotive OEM tyre demand, the
strong growth in OEM sales in the last two fiscals is expected to translate into higher
replacement demand. Growth in M&HCV replacement demand however could be
affected by a slower economic growth. Besides grappling with high input costs and weak
demand, domestic players are expected to face additional pressure with the lifting of
anti dumping duty (ADD) (with effect from August 2011) on Truck and Bus radials (TBRs)

imported from China and Thailand. While this move is expected to be contested by the
industry players, the lifting of ADD makes the imported TBRs cheaper by ~15-20%,
limiting domestic demand and pricing power.

Overview - Indian Tyre Industry Well Poised To Ride The Next Growth Wave In The
Auto Industry
All segments barring Light Commercial Vehicle (LCV) to post modest growth in
2014-15 following a relatively weak 2013-14
Contrary to general consumer expectations, the domestic automotive industry
posted relatively muted growth of around 5% during 2013-14, with a protracted
slow down in the Medium and Heavy Commercial (M&HCV) segment. While the Light
Commercial (LCV) Segment managed to record a volume growth in 2012-13
supported by growth in the sub 3.5T segment, the overall economic scenario caught
up with LCV demand during 2013-14, with the industry contracting by a sharp 14%.
Passenger vehicles (PV) performance was weak during 2013-14, de-growing by 5% marking the first instance of negative growth for the industry in over 12 years. Twowheeler volumes grew by a modest 7%, with the high volume Motorcycle segment
shows signs of demand distress even as the scooter volumes continued to maintain
a stellar growth. Tractor demand was a silver lining for the industry with a healthy
18% growth supported by healthy monsoons.
The Commercial Vehicle (CV) industry is now showing signs of recovery, especially
in the medium & heavy duty truck segment, which is witnessing steady
improvement in sales over the past four months. The recent trend in improvement
in freight rates across key routes, expectations of pick-up in investments in
infrastructure as well as manufacturing space along with renewal of mining
activities in some parts of the country suggest that the down cycle in M&HCVs has
bottomed out, although LCV demand is likely to witness recovery over the medium
term only. Replacement demand is expected to be the driver for passenger vehicle
demand in 2014-15. The two-wheeler demand remains on track for healthy growth
over medium term on favourable demographics and moderate penetration. Tractor
demand growth is expected to moderate in 2014-15 due to weak monsoon
precipitation impacting kharif inflows. Overall, ICRA expects demand recovery in the
automotive industry to be modest for 2014-15, but more broad-based as compared
to 2013-14.
Domestic Tyre demand momentum to pick up
Tyre demand in 2013-14 is estimated to have grown by a muted 1%, largely aided
by the two wheeler and tractor segments, even as demand from the LCV and PV
segments faltered. This comes close on the heels of a 2% de-growth witnessed by
the industry during 2012-13 due to contraction in the high volume two wheeler and
tractor segments. Overall demand from the replacement segment was largely flat
while OEM demand grows by a modest 2%-4%.

ICRA expects demand for tyres to grow by 6%-8% during 2014-15, driven largely by
the Truck and Bus (T&B), PV and scooter segments. Replacement demand for T&B is
also expected to grow as the economic activity in the country revives, thus leading
to increased goods movement.
Strong quarterly and annual performance trends despite the sluggish demand
Industry wide revenues grew at 5.6% during 2013-14 for ICRAs sample of nine of
the larger tyre companies in the country, aided largely by the improvement in
product mix, limited price discounting despite the falling input costs and higher
realisations in the export markets (on a depreciated currency), even as volumes
were languid. The softer input costs regime over the past one year has proved
highly favourable for the industry with industry wide operating profit margins (OPM)
climbing to historic peaks. With the industry in the midst of a large capital
expenditure phase, the benefits to the OPM have not directly trickled down to the
net margins (NPM). However, the high cash accruals of the past two years have lent
flexibility to the industry leading to a decline in industry wide leverage and
substantial cash build up.
Capital expenditure plans to resume after the postponement in 2013-14
Sufficient capacities in the T&B radial (TBR) segment and the outlook for relatively
softer input costs over the next 12 months places the industry in a sweet spot to
capitalise on the next demand wave in the automotive industry. In view of the
healthy build up in equity base, we also anticipate further project announcements in
the industry going forward.
Imports subside on relatively modest demand, augmented domestic capacities and
the depreciated rupee (INR)
Imports which were growing at a healthy clip until 2010-11, has since weakened as
domestic capacities build up to fill the demand-supply gap in the radial segment.
The weaker domestic demand in recent times coupled with the depreciated INR has
reduced the erstwhile import cost arbitrage. China continues to be the largest
exporter into India, despite the anti-dumping duty on such imports.
Muted growth in tyre exports during 2013-14 and Q1, 2014-15 due to global
demand conditions; rupee depreciation partly offsets the demand impact
Tyre exports from India grew by ~7.5% during 2013-14 aided largely by the weak
INR and despite the volume pressure from several importers like Brazil, UAE and
Philippines. Exports to USA, Indias largest tyre export destination grew by 5.8%
during 2013-14. During Q1, 2014-15, with weak demand persisting and currency
movements remaining relatively stable, tyre exports (value) remained flat.
Raw material prices to stay soft

 Domestic Natural rubber (NR) prices to remain range bound; imports to rise on
discounted global NR prices: Slow down in domestic production due to unfavorable
climatic conditions coupled with significantly cheaper global NR prices has led to a
sharp jump in import of cheaper NR into the country. With global demand staying
weak, particularly from China and a surplus situation in Thailand is expected to keep
NR prices suppressed over the next 12 months.
Prices of synthetic rubber and other rubber chemicals set to fall with drop in
crude oil prices: Prices of crude derivatives such as Synthetic rubber (SR), Carbon
Black (CB) and Caprolactum (feedstock for Nylon Tyre Cord Fabric-NTCF) have been
falling on decline in crude prices. Despite the political strife in several oil producing
nations, weak demand in China and the shale gas revolution is expected to keep oil
prices and its derivative range bound.
Lower input costs have benefited the industry as seen in healthy expansion of
margins for the industry. As demand catches up over the next 18-24 months, input
costs are expected to go up, not just in India but globally. Astute timing of
purchases and prudent management of inventory would be critical for sustenance of
profitability over the medium term.
Domestic volumes and export demand to drive domestic tyre industry by ~8%
(revenues) with lower input costs supporting margins. Leverage to moderate going
forward
ICRA expects the industry to grow by a CAGR of 11%-12% during the next three
years (2015-17) with revenues of Rs. 623 billion by 2016-17. For 2014-15, ICRA
expects the domestic tyre industry to grow by ~8% to Rs. 493 billion, supported by
~6% domestic volume growth. We anticipate heightened pressure from the dealer
community on tyre Original Equipment Manufacturers (OEMs) to reduce prices inline with the falling raw material prices. Despite which, for 2014-15, we expect the
significantly softer NR prices to trickle down into margins, leading to stable and high
operating margins of ~13%-14%.

International scenario
The Market for Passenger Car Tires / Tyres
The report looks at this particular product market in more detail. It begins by defining
the market and explaining the unique requirements that influence both the design and
manufacture of suitable products and the specific marketing channels which serve the
market.

It looks at the size and growth of this product in the two main end-user markets,
original equipment (OE) and replacement tires / tyres, and then examines the regional
markets for both end-uses.
Product trends in terms of design criteria and market niches are analysed and the
different requirements of the main markets investigated.
This report is already prepared in draft form but will be individually completed for each
purchaser in order to incorporate the latest news and information. In addition it may be
possible to include additional information on request.
The report will cost $75 and will be sent within five working days of the order.
If you are interested in this subject please e-mail Neil Mullineux via the Contact World
Tire Report Page.

The Market for Truck Tires / Tyres

The market for truck tires / tyres is very different from passenger car tires / tyres in
terms of end-use markets, customers, and markets served. This report looks first at the
total market and then at the geographical regions and the various market segments.
The key trends within this market are identified and analyzed.
Retreading is an important element in this market and the major players are extending
their influence by acquisition and by developing internal programmes. At the same time
new technical developments are changing the way tires are sold and the economics of
fleet management.
This report is already prepared in draft form but will be individually completed for each
purchaser in order to incorporate the latest news and information. In addition it may be
possible to include additional information on request.

he Market for Agricultural Tires / Tyres

The market for agricultural tires / tyres is specialist, with clearly defined products and
markets. A number of the largest tire / tyre companies are exiting this market, making
way for the growth of smaller, more specialist, manufacturers and niche players.

However, the market is becoming increasingly sophisticated with a steady move

towards radial tires and specific designs to minimise soil compaction. At the same time
many farm vehicles are becoming more powerful in order to increase productivity and
they need improved traction on a variety of surfaces.
A major trend is a widening of the market from the traditional farm- centred products
to include tires / tyres for landscape maintenance vehicles and the rapidly growing
sector of all-terrain vehicles (ATVs.)
This report is already prepared in draft form but will be individually completed for each
purchaser in order to incorporate the latest news and information. In addition it may be
possible to include additional information on request.

The Market for Earthmover & OTR Tires / Tyres

The market for earthmover and off-the-road (OTR) tires / tyres is the biggest of the
specialist markets and also the one requiring the most technical sophistication and
capital investment. Only a few companies have the capability of manufacturing the
largest of these tires but the recent scarcity in this market and the high prices obtained
by the limited number of suppliers has attracted a number of new competitors into this
field.
However, the market is segmented and the different end-users have different
requirements. Quite apart from their technical requirements, some are performanceoriented, others are cost-oriented and there are a number of purely opportunistic users.
Now that the demand has fallen so quickly the supply shortage of tires / tyres has
eased but the question now arises of whether these newcomers will carve out a
permanent niche for themselves.
There are also other questions to be answered such as the future mix between radial
and bias tires / tyres and whether the manufacture of these tires / tyres will move to
low-cost countries. The underlying and future demand in the major world regions will
be an important factor in this and it is examined in some detail.
Some of the major users are moving towards a proper maintenance and repair system
for tires / tyres with the help of their suppliers and this could open up a new income
stream for those companies capable of taking advantage of this development.

This report is already prepared in draft form but will be individually completed for each
purchaser in order to incorporate the latest news and information. In addition it may be
possible to include additional information on request.

The Market for Aviation & Aircraft Tires / Tyres

Aviation tires / tyres represent another small but high margin niche market for tires /
tyres, in which only a limited number of companies are engaged. Even within a
relatively small market there are three separate markets, each with specific and
different requirements - commercial, military and general aviation.
This market has been dominated by the more technically advanced companies able to
devote research and development resources to designing and manufacturing these
sophisticated products but more companies, particularly in the developing world, now
believe themselves capable of providing the same technical support to their sales effort.
Air transport has shown consistent growth for the last fifty years and growth in absolute
numbers will increase faster than world GDP. However there are increasing pressures on
the industry which will change its structure and the composition of its fleets. This will
inevitably affect the demand for tires / tyres in terms of quantity and, more
importantly, design quality.
This report is already prepared in draft form but will be individually completed for each
purchaser in order to incorporate the latest news and information. In addition it may be
possible to include additional information on request.

The Market for Two-Wheeler Tires / Tyres

This market includes some of the simplest of tires / tyres - for bicycles - and some of
the most sophisticated (motor cycles.) Both the manufacturing demands and the
markets for these products differ dramatically so both large and small companies are
involved though they do not, in general, compete. However, the edges of these markets
are not clear cut and they are becoming even more blurred.
This report examines the trends in each of the three markets for motor cycle, scooter
and bicycle tires / tyres and attempts to quantify and explain the changes that are
taking place.

This report is already prepared in draft form but will be individually completed for each
purchaser in order to incorporate the latest news and information. In addition it may be
possible to include additional information on request.

The Market for Industrial Tires / Tyres

Industrial tires / tyres cover a wide range of applications and the products themselves
vary widely. They range from relatively large pneumatic tires used for material handling
in ports and transport nodes to small, solid tires / tyres fitted to many fork lift trucks.
This variety requires focused distribution systems and this has given opportunities to a
number of smaller manufacturers and specialist distributors.
The major segments of the industrial tire / tyre market are identified and the growth
prospects of each examined.
This report is already prepared in draft form but will be individually completed for each
purchaser in order to incorporate the latest news and information. In addition it may be
possible to include additional information on request.

Tire / Tyre Materials of Manufacture

A radial tire / tyre consists of roughly 25 different parts and as many as twelve rubber
compounds. The materials which go into a tire / tyre account for 25% of the final price
of the tire / tyre and they influence everything from the initial design to the disposal
options.
Each of the materials making up the final mix has an important role and this report is
designed to give an understanding of that role - chemical, physical and economic. All
the main materials are examined, the role they play in tire function, the factors
involved in their production, the major players involved and the trends in that particular
industry.
The main materials covered are:

Natural rubber

Synthetic rubber

Carbon black

Silica

Steel cord

Fibres

Chemical additives
This report is already prepared in draft form but will be individually completed for each
purchaser in order to incorporate the latest news and information. In addition it may be
possible to include additional information on request.

Tire / Tyre Manufacturing

For much of its history, tire / tyre making has been a multi-stage and highly laborintensive industry involving building up the tire carcass in layers on a drum. The
introduction of automated processes has tended to be gradual and partial; evolutionary,
not revolutionary.
This is now all beginning to change, driven by the demands of the market. First Michelin
and then most of the major manufacturers, have announced radical new manufacturing
processes which promise dramatic improvements in investment costs, productivity,
material saving and quality standards.
The details of many of these processes are still regarded as commercially sensitive but
enough information is known to recognize that a paradigm shift is taking place in the
tire / tyre industry, which will change the economics of tire / tyre manufacturing and
and the marketing fundamentals of tire / tyre distribution.
In order to understand these changes, this report examines how tires / tyres have been
made (and are still made at present) and then reviews the pressures on the industry
that have brought about these proposed and actual changes to the manufacturing
process. The various manufacturers' solutions are then compared, before examining the
implications these changes will have for the industry as a whole.
This report is already prepared in draft form but will be individually completed for each
purchaser in order to incorporate the latest news and information. In addition it may be
possible to include additional information on request.

Marketing of Tires / Tyres

Most marketing of tires / tyres is carried out at a local level but, with the increasing
globalization of the tire / tyre industry, the policy is now set internationally. This report
examines the main themes of international marketing, how the major players are
reacting to these themes and the implementation in the main regions.
The dominant issue is branding - how it has evolved, the part it plays and the strategies
of all the major players. Linked in with this is product positioning, the role of niche
products and niche markets and then the advertising and promotional strategies that
have been developed to address the agreed policy.
Distribution and retailing are key elements in the marketing mix and major trends in
these areas are examined to see how companies are adapting to the rapidly changing
market environment.
This report is already prepared in draft form but will be individually completed for each
purchaser in order to incorporate the latest news and information. In addition it may be
possible to include additional information on request.

Recycling of Tires / Tyres

If not ignored completely, recycling of tires / tyres was very low on the industry's list of
priorities until very recently. It has now come right to the forefront and is a major factor
in every decision from design through to the marketing of tires / tyres.
This report first looks at the hierarchy of solutions:

Reduction

Re-use

Recycling

Recovery
Paying particular attention to retreading which is almost an industry in itself. Varying
degrees of progress are being made in developing recycling methods but there are no
simple solutions and the problems will persist for many years.
Three critical regions are then examined, North America, Europe and Asia, to analyze
the legislation that is driving the trends and the varying degrees of success the industry
is having in meeting its objectives.

This report is already prepared in draft form but will be individually completed for each
purchaser in order to incorporate the latest news and information. In addition it may be
possible to include additional information on request.

Technical developments - Materials &

Properties
Technical change is vital to the tire / tyre industry and, although there are few
breakthroughs in the chemistry and physics of tire / tyre design and manufacture, the
pace of evolutionary change is speeding up.
This report examines the main materials used in tire construction to assess the
developments that are happening and then looks at the properties of the tire in order to
see what progress has been made and where future effort will have to be concentrated.
Materials:

Natural rubber

Synthetic rubber

Carbon black

Silica

Other fillers

Steel cord

Fibers

Chemicals

New materials
Properties:

Durability

Weight

Noise

Rolling resistance

Inflation

Wet surface performance

Ageing
This report is already prepared in draft form but will be individually completed for each
purchaser in order to incorporate the latest news and information. In addition it may be
possible to include additional information on request.

Technical developments - Tire / Tyre Standards

Technical developments do not occur in a vacuum; they are frequently brought about
by new industry standards or legislation. This report examines the most important
legislation (or potential legislation) that is influencing the tire / tyre industry and then
looks at the way the industry has reacted with specific design improvements.
After looking at the design process and how that has changed, the report discusses the
recent and future improvements in particular tires:

Passenger car tires (tyres)

High performance tires (tyres)

Winter tires (tyres)

Runflat tires (tyres)

Fashion items

Truck tires (tyres)

Aircraft and OTR tires (tyres)

It then looks at the various technologies that are coming into use and the possible
combination of these technologies to make "the intelligent tire."

Radio frequency identification (RFID)

Tire (tyre) pressure monitoring systems (TPMS)

New tire/wheel designs

Intelligent tires (tyres)

Systems integration

Future research
This report is already prepared in draft form but will be individually completed for each
purchaser in order to incorporate the latest news and information. In addition it may be
possible to include additional information on request.

Stratagic industry analysis

SWOT Analysis
1. Company has large product portfolio.
2. Its a 140 year old company and is in true sense a global company with
markets in Africa, Europe, America, Asia and Australasia
3. Company is acquiring companies in Malaysia and Modi Tires in India thereby
showing its intentions of expanding in emerging economies of the world.
Strengths

4. Sponsors of FIFA World Cup and other major global sporting events

Weaknesses

1. Not much visible in India & a few emerging countries

2. Have to deal with poor economic conditions in Japan, US and European
economies.

Opportunities

1.Have an excellent opportunity in emerging economies.

2. Need to position and communicate their stand on being eco-friendly and

sustainable.
1. There is Stiff Competition from national and international brands.
2. Japanese and US economies are not growing much and have reached a
maturity phase.
3. Government Policies w.r.t export duties, import duties, tax levied on
automobile industries and economic condition of nation as it determines the
sale of automobiles.

Threats

4. Introduction of other transport facilities like metro, monorails and local trains
keeping pollution hazards caused by combustion of automobile fuels.
5. Volatility of raw material prices and Fluctuation of exchange rates.

Opportunities and Threats: These are external factors stemming from community or
societal forces.

Trends (new research)

Societys cultural, political, and economic ideology [

Funding sources

Current events

Societal oppression ]

Although the SWOT analysis was originally designed as an organizational method for
business and industries, it has been replicated in various community work as a tool for
identifying external and internal support to combat internal and external opposition. [13] The
SWOT analysis is necessary to provide direction to the next stages of the change process.
[16]

It has been utilized by community organizers and community members to further social

justice in the context of Social Work practice.

Benefits
The SWOT analysis in Social Work practice framework is beneficial because it helps
organizations decide whether or not an objective is obtainable and therefore enables
organizations to set achievable goals, objectives, and steps to further the social change or
community development effort.[18] It enables organizers to take visions and produce practical
and efficient outcomes that effect long-lasting change, and it helps organizations gather
meaningful information to maximize their potential. [18] Completing a SWOT analysis is a
useful process regarding the consideration of key organizational priorities, such as gender
and cultural diversity, and fundraising objectives

Limitations
Critiques include the misuse of the SWOT analysis as a technique that can be quickly
designed without critical thought leading to a misrepresentation of Strengths, Weaknesses,
Opportunities and Threats within an organization's internal and external surroundings.
[20]

Another limitation includes the development of a SWOT analysis simply to defend

previously decided goals and objectives. This misuse leads to limitations on brainstorming
possibilities and "real" identification of barriers. This misuse also places the organizations
interest above the well being of the community. Further, a SWOT analysis should be
developed as a collaborative with a variety of contributions made by participants including
community members. The design of a SWOT analysis by one or two community workers is
limiting to the realities of the forces specifically external factors, and devalues the possible
contributions of community members

Pest analysis

This form of business analysis examines the external environment and the global
factors that may affect a business. It can provide a quick and visual representation of
the external pressures facing a business, and their possible constraints on strategy.

P Political
E Economic
S Social
T Technological

POLITICAL:
This is concerned with how political developments, regionally, nationally and
internationally might affect a businesss strategy.
Employee protectionhealth/safety, redundancy pay, discrimination, minimum wage
Consumer protectiontruth in advertising, high-pressure sales tactics, sales agreements
Competition protectionunfair trade practices, monoply, mergers & takeovers

ECONOMIC:
This involves the analysis of a wide variety of economic factors and their effects on a
business. They include:
Economic growth and rising living standards
Low/high levels of inflation
Low/high levels of unemployment
Balance of payments
(value of imports vs exports)
SOCIAL What competitive advantage might a business gain by social changes taking place
outside of the business?
Aging population, reduced birth rates, longer life expectancy

 Changing role of women in the workplace

Improved Education better skilled workers
Early retirement, more leisure time
Rising divorce rates, more single households
Job security
Immigration creating a wider range of consumer tastes
TECHNOLOGICAL
The impact of technological advancement on business strategy.
Business Software applications (word processing, spreadsheets, database,
accounting systems, inventory systems)
Computer-aided design
Computer-aided manufacturing
Internet/Intranet

Five force model