Consumption of Rubber in India Increases

We are all aware of the demand and the supply rule which states that as the demand of a product increases so does its supply. Same is the case with rubber. As and when the consumption of rubber increases the production of rubber in India shall also see an increase simultaneously.

The growth in the rubber consumption is a corollary to the economic development of the country. On the other hand the recent prolonged phase of price crash of natural rubber has drastically impacted in a negative way the growers of rubber. Ms. Sheela Thomas, who is the former Rubber Board Chairman and Secretary General of the Association of Natural Rubber Producing Countries (ANRPC) in her inaugural speech at the Indian Rubber Meet (IRM) highlighted about the consumption of rubber in India. She stated that in India the per capita consumption of rubber is 1.2 kg. Across the world, this figure is 3.69 kg. If we talk about China this figure is even higher which is equal to 6.59 kg. The per capita consumption of rubber is the basic indicator of rubber based industrialisation. She further emphasised that the vulnerability of the Micro, Small and Medium Enterprises (MSMEs) is the river product manufacturing to world market exposure. The big players like the tyre manufacturers also worry about it because they have to face a lot of competition from imports from other countries like China, South Korea and Japan. She stated that there is a need to adopt multifaceted approach which brings together institutional developmental and regulatory measures. The Commerce Minister, Suresh Prabhu, give a video message also during the meet. Rubber board Chairman D Anandan stated that IRM, which is an important forum for the entire stakeholders in the rubber industry to meet, adopted the team towards a sustainable double value chain considering the challenges faced by the industry today.

By: Anuja Arora

Content: https://economictimes.indiatimes.com/news/economy/agriculture/high-consumption-of-rubber-may-trigger-its-production-growth-in-india/articleshow/66432657.cms