Kochi: Non-tyre rubber industries in India could achieve Rs 1 lakh crore turnover in ten years, Tata Strategic Management Group principal Charu Kapoor said. The sector could also provide employment to about 5.20 lakh people and raise export revenue to Rs 25,000 crore, he said.
The total turnover now stands at Rs 25,000 crore, a 10 per cent growth. China, however, is growing at double that pace.
The volatility in raw material prices and the imports from China and other countries are creating challenges for the non-tyre rubber industries in India. A joint effort is needed to raise the turnover to Rs 1 lakh crore by 2025, Kapoor said. Rubber growers should work in tandem with the industrial sector and the government.
The government should encourage the sector by rationalising the tax structure, he added.
Small enterprises have a large potential in the non-tyre industrial sector. The government has to organise rubber clusters to develop business for these units. This will help them go forward by sharing production technology and form marketing strategies together.
Small enterprises now have a minimal presence as they are not even competitive at the national level. Formation of clusters will help them in multiple levels.
The non-tyre rubber sector also faces a shortage of skilled labourers. The government and the industry should try to attract more young professionals to the sector and introduce new technology and modernise machinery.
India will have to take a re-look at trade treaties with other countries to keep rubber imports under check. This is entirely up to the government. All rubber industries are growing but rubber footwear is witnessing slowing growth.
The growth of rubber industries depend on increased rubber production. India is the fifth-largest rubber producer. Taiwan, Indonesia and Vietnam are in the top three slots. Kapoor said India should try to increase rubber production to help industries grow.