India's Union Government keen on national rubber policy

ERJ staff report (TP)

Kochi, India − The Union Government is keen on formulating a national policy on rubber on the lines of the ones for petroleum, textiles and information technology sectors, reported The Hindu.

JS Deepak, Development Commissioner for Rubber in the Commerce Ministry, has asked a rubber industry delegation to work out details of the policy.

Niraj Thakkar, President of All-India Rubber Industries Association, who headed the delegation, said that the Government welcomed the suggestion of having a national policy and the Development Commissioner was willing to take it forward.

In the next few months, the industry will undertake consultations with all stakeholders including growers, machinery manufacturers, synthetic rubber producers, manufacturers, importers, exporters and educational institutions. Their inputs will be discussed in the backdrop of existing policies affecting the sector and a draft report will be submitted, Thakkar said in a statement.

According to the association, rubber is a ‘sunrise’ industry with immense potential for growth. A national policy on rubber is crucial to optimise its potential. “We have already communicated to Rubber Board Chairperson Sheela Thomas and are awaiting the board’s suggestions with a view to giving a direction to the industry’s efforts,” he said.

In another significant development, the Commerce Ministry supports increasing import duty on finished rubber products to address the challenges of inverted duty structure. The association expects a decision in this regard soon, he said.

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Full story from The Hindu