The All India Rubber Industries Association (AIRIA) has called on the Indian governemnt to avoid introduing further trade restrictions on imported rubber compounds.
Currently, imports of these materials are subecct to a basic duty of 10%, 'IGST' of 18% and surcharge 10%, according to media information posted onlinme by the asociation.
Furthermore, natural rubber (NR) is curently subject to a basic import duty of 25%, as well as an additional duty 5% and surcharge 10%.
India's rubber industry imported 1.125 tonnes of NR in 2021 according to the information, with AIRIA noting that domestic production lags consumption levels.
Accordingly, the Mumbai-basedassociation believes Indian authorities should lift the import duty on NR and not impose further restrictions on import of compound rubber.
Source : European Rubber Journal