24.5 C
New York
Saturday, August 13, 2022

Indian tire group objects to NR duty

KOCHI, India (March 5, 2013) — The Indian Automotive Tyre Manufacturers Association (ATMA) said it opposes the national government’s decision to increase import duty on rubber, claiming it will have long-term adverse consequences for the industry.

ATMA Chairman Anant Goenka said the 70-percent increase in duty on natural rubber (NR)—from, in U.S. dollars, 37 cents to 62 cents a kilogram—will have far reaching and adverse consequences for the tire industry and its long-term impact will be felt on the entire value-chain of the rubber sector.

“The increase in duty on NR will severely impact the industry at a time when the automobile sector is witnessing a sharp negative growth in major vehicle categories including commercial vehicles, leading to a demand slowdown in the tire industry as well,” he said.

Source: Tire Business

Related Articles


Please enter your comment!
Please enter your name here

Stay Connected

- Advertisement -

Latest Articles

Popular Articles