Mumbai, Jun 5 (FN Agency) The rubber industry, including the non-tyre rubber sector, is expected to double its exports by 2025, predicted All India Rubber Industries Association (AIRIA), an apex body for rubber industries, said on Saturday. MSME criteria should be increased from Rs 250 crore in order to keep the future of growth intact, stated a release issued by Association. With the National Logistics Policy (NLP) announced, the total logistics amount paid by exporters will be reduced to 6-7 per cent from 17-18 per cent.
AIRIA had organised an event for exchanging ideas and suggestions for the smooth functioning of the rubber industry in next coming years. Speaking on the occasion, Dr Sawar Dhanania, president of AIRIA, said, “The global market for rubber products which is estimated at around USD 212 billion dollars today is expected to also grow by 2025.” Shashi Singh, senior vice president of AIRIA, said, “Indian Institute of Foreign Trade (IIFT) and the Export Promotion Councils should educate MSMEs on export procedures, documentation requirements, and the finer points of export.