MUMBAI—The government of India has agreed to help implement an ambitious National Policy on Rubber developed by the All India Rubber Industries Association, according to the AIRIA.
Announced April 1, the policy designates the Indian rubber industry as a “Sunrise Sector” bringing major improvements to India's economy, the AIRIA said.
Although India slipped to fifth place in 2013 among the world's natural rubber producers, it ranks second among world consumers of both natural and synthetic rubber, according to the association. Rubber product exports from India—60 percent of them designated for the automotive industry—have averaged more than 20 percent growth annually over the last decade, and the rubber sector enjoys one of the highest employment growth rates in India, the AIRIA said.
“India is considered to be one of the key players in the global rubber business,” it said.
The Indian government has advised all rubber industry stakeholders to come together to implement the NPoR, according to the AIRIA.
That policy, the association said, has three goals:
• To make the Indian rubber industry the global leader by ensuring synergy along the entire industry value chain;
• To make India a leader in both the production and consumption of rubber, for both the domestic and export markets; and
• To transform the Indian rubber industry into a global sourcing hub similar to the Indian information technology industry.
The multifaceted policy includes plans to create an indigenous ecosystem in India for natural rubber; to promote cutting-edge research and development in rubber; to attract investment; to make India's rubber industry the most technologically advanced in the world; to increase both production and consumption of rubber; and to increase productivity, quality and employment.
“The future looks bright if we address to NPoR,” the AIRIA said at the end of the NPoR document. “AIRIA looks forward to inputs from the industry as it takes unto itself to direct and provide opportunities for growth for this perceived Sunrise Sector.”