Try GOLD - Free
Efforts to boost rubber plantation in India to meet market demands
BUSINESS ECONOMICS
|May 01 - 31, 2024
With a surge in demand for natural rubber across India outpacing domestic production, stakeholders are stepping up efforts to bridge the gap.
India boasts over 1.3 million rubber growers, primarily concentrated in Kerala, which contributes significantly to the nation's rubber output, reaching 8.39 lakh tonnes in FY23. However, the demand during the same period reached 13.5 lakh tonnes. The tire industry, which consumes around 70% of India's natural rubber, has witnessed rapid growth and is projected to expand further. Consequently, there's a concerted effort within the rubber industry to rejuvenate domestic production.
As part of this initiative, four members of the Automotive Tyre Manufacturers Association (ATMA), in collaboration with the Rubber Board, have devised a plan to establish an additional 200,000 hectares of new rubber plantations in Northeast India and West Bengal. Embracing the ethos of 'Atmanirbhar Bharat', the INROAD (Indian Natural Rubber Operations for Assisted Development) project aims to support the development of 200,000 hectares of rubber plantations in the Northeast, under the active guidance of the Ministry of Commerce & Industry. Notably, INROAD marks the world's first collaborative effort between the natural rubber-consuming industry (tire sector) and government agencies to finance the plantation of natural rubber (NR).
This story is from the May 01 - 31, 2024 edition of BUSINESS ECONOMICS.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM BUSINESS ECONOMICS
BUSINESS ECONOMICS
India's fields of the future: Harvesting sunlight and crops together
India's farmland has always carried the burden of uncertainty.
2 mins
October 01 - 31, 2025
BUSINESS ECONOMICS
DURGA PUJA: A Festival of Roots, Culture and Togetherness
Durga Puja and Navaratri are not merely festivals of worship and celebration.
2 mins
October 01 - 31, 2025
BUSINESS ECONOMICS
Tea Industry: Already in crisis, can it overcome the new challenges of Tariff and GST?
The Indian tea industry, second only to China's, is a vital part of the country's agricultural economy.
2 mins
October 01 - 31, 2025
BUSINESS ECONOMICS
Bharat of Sardar Patel's Dream
Whenever the farmers suffer, my soul melts. If I take away their pain and make them self-sufficient, what greater fortune will I have than this
5 mins
October 01 - 31, 2025
BUSINESS ECONOMICS
Gandhi and a Pious Bharat of his dreams
If we talk about explaining Mahatma Gandhi's philosophy very briefly, it can be said with certainty that it is based on the principle of the Indivisible Whole and universal unity.
5 mins
October 01 - 31, 2025
BUSINESS ECONOMICS
India, China & Trump: rethinking relationships
After being rebuked by Donald Trump, first through a 50% tax on Indian goods exported to the American market and now the one lakh dollar clampdown on HI-B visa, Narendra Modi has been forced to look elsewhere in the world for support.
3 mins
October 01 - 31, 2025
BUSINESS ECONOMICS
Festivals in India energize communities and boost unorganized sector activity
In India, festivals are not just cultural events—they are economic engines that touch every section of society.
1 mins
October 01 - 31, 2025
BUSINESS ECONOMICS
Higher Q1 GDP growth, GST rates rationalisation expected to boost India's festive economy
India, known as the land of diversity, is home to a multitude of communities, each with unique cultural traditions.
10 mins
October 01 - 31, 2025
BUSINESS ECONOMICS
Beyond the Familiar: Unexplored Dimensions of Sister Nivedita's Vision
“I doubt whether any Indian loved India the way Nivedita loved her,” said freedom fighter Bipin Chandra Pal.
3 mins
October 01 - 31, 2025
BUSINESS ECONOMICS
India shields it's economy by revamping tax structure
At a time when punitive tariffs from the United States threaten to squeeze exports and dampen investments, India has chosen to shield its economy by revamping the tax structure to stimulate domestic demand.
1 mins
October 01 - 31, 2025
Listen
Translate
Change font size
