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Exports to go up by 14 per cent
The domestic rubber industry is expected to register an export jump of 14 per cent, in rupee terms, in the current year as compared to the previous year. During year 2000-01, rubber exports are estimated to touch Rs 16,300 million against Rs 14,340 million in 1999-2000. Industry expects more export growth with value addition in the rubber industry. With a turnover of about $ 3,200 million, India has become the fourth largest producers of natural rubber in the world and the fifth largest consumer of rubber.India has a robust production base that meets the domestic requirement and caters to a sizeable portion of the global demand. An invested capital of Rs 50 billion is spread over 5,000 large, medium and small units manufacturing 28 broad categories of rubber goods. Apart from natural rubber the industry also consumes imported and indigenously produced synthetic rubber. The industry consumes natural rubber and synthetic rubber in the proportion of 80:20 against the global pattern of 30:70, which shows that the industry is predominantly based on natural rubber. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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