(30 Jan 2025, 14:56)

All India Rubber Industries Association urges government to reduce custom duty on import of natural rubber

The All India Rubber Industries Association has urged the government to reduce the custom duty on import of natural rubber to cater to the requirement of the domestic rubber industry. It highlighted that availability of raw materials in the country is a big challenge. Import duty on natural rubber is around 25% or Rs30 per kg whichever is higher and natural rubber latex attracts at 70%. If it is not possible to remove the import duty, it should be reduced to 10% to help the industry to meet the demand. It also noted that there should be a uniform rate of GST for rubber and thermoplastic products for automotive parts.

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All India Rubber Industries Association urges government to reduce custom duty on import of natural rubber