The rubber industry is a major industry in Indiaâs economy, with a number of industries dependant on rubber products. India is counted among the world top producers and consumers of rubber. Apart from the commercial value, this industry also provides an important resource for the rest of the industries.
While for a number of years the industry had been focused on catering to domestic demand, in recent years export of both natural rubber and rubber products has been on the rise.
This sector has two major sub-sectors, Tyre and Non-tyre with both providing an impressive array of products in both sub-sectors. While the tyre segment is dominated by large organizations and multinationals, the non-tyre segment largely consists of medium and small scale manufacturing units.
The Indian Tyre industry has been witness to stupendous growth in the last few fiscal years. This can be accounted to growth in automobiles demand, easy availability of natural rubber, and upgradation to ultramodern production facilities. With manufacturers investing huge capital in this segment, the growth trend is expected to continue.
The Non-tyre segment is predominantly labour-intensive and can be divided into dry rubber and latex based production units. Some of these products are tubes, footwear, hoses, cable, belting, wires etc. This sub-sector is expected to add to the export revenue in a major way.