Friday, November 2, 2012

Increase NR output and remove inverted duty structure

All India Rubber Industries Association has asked the government to take urgent steps to increase natural rubber production and remove inverted duty structure. The import of even those raw materials, which are not indigenously produced, are subjected to high rate of custom duty, making it very difficult for the rubber industry to survive and to compete against import of finished products.

Insufficient availability of natural rubber and comparatively higher import duties on raw materials than on finished products are impacting the competitiveness rubber industry. In the current year, domestic natural rubber production is projected to fall short of domestic consumption. On the other hand, levy of anti-dumping duties on carbon black and rubber chemicals, major raw materials for the industry, has made the Indian rubber products more expensive in comparison to imported finished products, said Niraj Thakkar President of All India Rubber Industries Association.

All India Rubber Industries Association has asked for waiver of customs duty on raw materials not manufactured domestically.

Read lot more in Rubber4U – 15th November 2012 issue

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