ERJ staff report (BC)
New Delhi – The All India Rubber Industries Association (AIRIA) has urged the Indian government to formulate a national policy on rubber on the lines of its established policies for petroleum, textiles and information technology, reports the Business Standard.
AIRIA president Niraj Thakkar is reported as stating that rubber is a sunrise industry in India, with immense potential for growth if policy enablers are put in place. A national policy on rubber is critical to optimise the potential of the sector.
India is the world’s fourth largest producer and second largest consumer of natural rubber, Thakkar noted, and the third largest consumer of all types of rubber put together. The consumption of synthetic rubber has been increasing at more than 20 percent year-on-year for the past five years.
However, said Thakkar, with Vietnam, Indonesia, Sri Lanka and other natural rubber producing countries vying aggressively for a stake in global rubber product manufacturing, challenges for the Indian rubber industry can only increase.
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Full story from Business Standard