Under margin pressure due to the rising prices of natural rubber, the end-user industries have asked the Government for duty-free import of two lakh tonnes of rubber through a Government agency, besides a ban on exports. The user-industry hopes that with more natural rubber earmarked for domestic use, the prices would drop or at least stabilise. Mainly consisting of tyre companies, besides small enterprises making products like shoes and household items, the user industries have also asked for a ban on futures trading in rubber, besides a lowering of the import duty to 10 per cent from 20 per cent and an increase in the import duty for finished products. The joint appeal of the Automotive Tyre Manufacturers' Association (ATMA), All India Rubber Industries Association (AIRIA) and Indian Cycle and Rickshaw Tyres Manufacturing Association has been sent to the Finance and Commerce Ministries. The delegation has also approached the Planning Commission after it met the Prime Minister, Dr Manmohan Singh, in February this year.
Source: The Hindu Business line
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