India’s rubber trade with East Asia is poised to receive a big boost with the recent visit of Indian rubber industry delegation to Taiwan and Korea supported by MSME Ministry.
During the 6-day visit, the delegation led by Mohinder Gupta, President, All India Rubber Industries Association, held a series of B2B meetings with rubber industry associations, made visits to the factories to explore the business opportunities.
The delegation met the Taiwan Rubber and Elastomer Industries Association, Taiwan Association of Machinery Industry, Importers and Exporters Association of Taipei, India-Taipei Association, Korea Rubber Industry Association, Korea Importers Association, Embassy of India in Korea, Manufacturers of Rubber Products and Rubber Machinery and other relevant organisations.While import under Chapter 40 (rubbers and articles thereof) from South Korea was to the tune of $ 298.24 million in 2015-16, exports from India paled in comparison to just $11.83 million.
In the case of Taiwan, the exports of rubber products stood at just $4.5 million, while imports were $33.34 million.
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