Due to hit hard by the global slowdown, the Indian
government today announced additional incentives for exporters, which includes
extension of 2% interest subsidy for one more year, till March 2014. The Commerce
and Industry Minister Anand Sharma has also decided to grant incentive on
incremental exports that would be made during January-March 2013 over the base
period January-March 2012.
With these incentives, we will be able to
give a push to exports in the last quarter of this fiscal. The objective is to
stabilise the situation and move from negative territory to positive and keep
the trade deficit under control, Commerce and Industry Minister Anand Sharma
told reporters.
The South Korean tyre manufacturer - Hankook
is eyeing the Indian market and is expanding its activities and aims to sell
one hundred thousand tyres. Hankook will double its network of dealers from the
existing 250 in the current fiscal year and has planned to strengthen its
product line to address the needs of the customers and aims to have sales
revenue of US$10 million by the end of the current year.
Today, RSS4 grade rubber in India closed at `.160
a kg and the price of RSS3 grade closed with a positive note at `.175.09
per kg at Bangkok, while Malaysian SMR 20, which Indian tyre makers prefer to
import, closed at `.160.08 a kg. On the Tokyo Commodity Exchange, January
futures series currently (Trade date: 27.12.2012) trades at ¥279 per kg,
February at ¥280.7, May at ¥293 and June 2013 at ¥296.5 per kg.
Read
lot more in Rubber4U – 1st January 2013 issue
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