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Date: 22/02/2024

No import duty cut on rubber: Secy
 
India is not considering any cut in import duty on rubber as of now as the differential between the local and international prices is maintained, said Mr Amardeep Singh Bhatia, Additional Secretary in the Commerce Ministry. He was talking about the domestic user industry’s demand to cut the duties, and that of local producers against any duty reduction. Tyre makers are one of the major consumers of the commodity. There are over 13 lakh rubber growers in the country. Kerala accounts for a major chunk of the production, which was 8.39 lakh tonnes in 2022-23. Consumption during that fiscal was 13.5 lakh tonnes. The gap is bridged by imports from countries such as Vietnam, Malaysia and other Southeast Asian nations. The government had increased the duty on import of dry rubber to 25 per cent or Rs 30 per kg, whichever is lower, from April 30, 2015, said a report.
 
Source: Exim News Service: New Delhi, Feb. 21



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