With an aim to address various issues of rubber industry, Union minister for commerce and Industry and Civil Aviation Suresh Prabhu has said the government is developing a National Rubber Policy. The Minister highlighted the policy will address issues that will boost productivity. He also underlined that the rubber industry will continue to grow faster, create more employment opportunities, increase exports and add to the economic output of India.
Besides, stating that India will become a 5 trillion dollar economy in the next few years, Prabhu said it is expecting that the manufacturing sector will add 20% to this and the rubber industry can make a significant contribution to this.
Additionally, he said a multi-pronged strategy is being formulated to boost India's exports, adding that during the last 13-14 months, India's exports have grown at 10 per cent, despite the slowdown in the global economy. Meanwhile, he said the government is working towards entering into free trade agreements with Africa and Latin America, where the first priority is the benefit of Indian industry.
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