The development of the Indian automotive industry brings new business opportunities to Thai rubber exports

The Bangkok Post reported on March 5th that with the continued growth of the domestic economy and the middle class, India's auto manufacturing industry will develop rapidly and bring tremendous business opportunities to Thai rubber exports. According to data from the Rubber Board of India, sales of cars in the Indian market reached 1.95 million last year, an increase of 4.2%. It is expected that this year's fiscal year (end of March) India's domestic rubber production will be about 900,000 tons, despite a year-on-year increase of 4.6%, there are still 7.1 Tens of tons of gaps. According to another report, India is the world’s second-largest rubber consumer after China, and the fourth largest rubber producer. Since the fiscal year 2007-08, Indian rubber production has begun to fall below the domestic market. The shortage is mainly from Indonesia and Thailand. Imports, as Indian government has included rubber in the list of protection products in the free trade agreements signed by the Indian government, the Indian Automobile Tire Manufacturers Association is actively lobbying the government to allow duty-free imports of 100,000 tons of natural rubber.