Govt Raises Import Duty On Rubber: Tyre Industry Suffers!

[Akash1886]

Buddies,

Indian Govt's decision to raise the import duty on Rubber has sent tyre manufacturers in a tizzy and they are worried about this decision as it will make them un-competitive and cause dumping by neighbor countries. According to them, this move going against the government's 'Make in India' initiative. The government increased the duty on natural rubber to 25% from 20%, making imports costlier than before because our natural rubber production fell to a 12-year low.

link

Regards

Akash

 

[HARI GANGADHARAN]

Thanks MR.Akash for giving the news here.Coming to the point,here in kerala,the Rubber Estate owners were suffering due to the reason that government had reduced the import tax last year.Before this,for one kg of rubber,the farmers got about ~200RS (or above).After when government reduced the import tax,the companies started importing rubber from China,Malaysia etc and the local natural rubber price fall below 90RS.Thus the local rubber farmers suffered a lot.

Seems like government is trying to help local farmers.Thanks to Make in India initiative.

 

[kdskamal]

Government is doing the same thing indirectly with the dollar since opposition isn't helping them pass bills in LS and RS. They will devalue INR to 70 which will make force Indian manufactures to import the machines instead of final goods.

All part of make in India campaign. Jai ho!

 

[generalmax]

Tyre manufacturers never decreased their selling price, when they were getting the rubber cheap.Now when the import duty is increased,they got a chance to increase the prices.
That is hypocrisy as usual from our business heads.
@kamal
Devaluing Indian Rupee will do good for internal manufacturing ? Are we being taken for a ride? How will we pay for the oil required for manufacturing and energy? Wasn't getting INR to 4oRs to a dollar, one of the poll promises of this government? Can you elaborate?