The Union government would come out with a rubber policy to benefit the entire rubber value chain, said Union Minister for Commerce Suresh Prabhu in a message to the inaugural session of India Rubber Meet 2018 here on Tuesday.
The Union government, along with the State governments of Kerala and Tripura, has formed a task force for the purpose and its report is ready. The Minister said action would be taken on whatever discussions and findings were made at the rubber meet.
Sheela Thomas, former secretary general of the Association of Natural Rubber Producing Countries and former chairman of the Rubber Board, said a multifaceted approach was essential to ensure sustainability of the entire rubber value chain.
The rubber industry value chain in India annually produces items worth around ₹85,000 crore with the annual export reaching ₹19,000 crore. There was vast potential for the industry to grow in terms of range of products, value addition, technology upgradation, quality enhancement, export and employment generation, she said.
The India Rubber Meet is a biennial event organized by the Rubber Board in partnership with stakeholder associations in rubber and related sectors.