India may bag 2nd place for rubber products

Growth In High Potential Sectors Like Auto Industry To Push Up Demand

Our Bureau CHENNAI

    IF THE rubber sector gets adequate government support, India can emerge as the second largest manufacturer of rubber products in the world, next only to China, in the coming years. The current surge in the manufacturing sector is set to boost the
    rubber industry, both in the domestic and export segments. The average CAGR, too, is accelerating to 8% in the course of normal downstream demands within the domestic sectors of the economy that use rubber products. With rapid growth in high potential sectors such as the automotive industry, the demand for rubber may touch 10%.
    According to All India rubber Industries Association immediate past president KT Thomas, “Export-led growth could lead to cons o l i d a t e d
    growth between 12-16% sustainable till 2015, but there are key constraints that need to be addressed.”
Elaborating, AIRIA regional chairman, south, Vinod Simon, said: “Volatility in prices of natural rubber, uncertain supply situation, high import duties on natural rubber and latex and high input cost due to imposition of anti-dumping duties needs to be sorted out at the earliest. What the Indian rubber industry needs is a level playing field and, if provided, the industry has its inherent strength to grow rapidly and deliver.”
    They were in Chennai on Tuesday to outline the features of India Rubber Expo to be held in Kolkata in January 2009. The expo held in Chennai in 2007 was ranked as Asia’s largest rubber show, the world’s second largest with about 250 exhibitors from around the world. AIRIA senior vicepresident TK Mukherjee said IRE 2009 would be AIRIA’s best yet.

 

 

 

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