India to be self-sufficient in synthetic rubber

In what can possibly be seen as great news for its rubber industry, India is expected to become self-sufficient in synthetic rubber with an expected three-fold jump in the production capacity in 2017. This will improve raw material supply to tyre manufacturers in the country.

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At present it is estimated that most of India’s synthetic rubber requirements are met through imports. For becoming self-sufficient in its synthetic rubber, India would have to spend $1 billion less per year on imports, thereby reducing its trade deficit that stood at $139 billion last year.

Mr. Stephen Evans, Secretary-General of the International Rubber Study Group, said: “For the last many years Indian demand was way above production capability. Now with new plants going on stream, suddenly India will become self-sufficient in synthetic rubber production.”