Sector played major role in rejuvenation of domestic economy: ATMA Director General

India's track record over the past 20 years based on key performance indicators pertaining to automobile, tyre, and rubber sectors has been impressive, according to Rajiv Budhraja, Director General, Automotive Tyre Manufacturers' Association (ATMA). He was speaking at the India Rubber Meet 2022 that concluded in Kochi on Saturday. The meet was organized by the Rubber Board in collaboration with rubber industry partners, including ATMA.

Mr. Budhraja, a tyre industry veteran, said the pandemic had been an unprecedented challenge at the global level. "India's auto and tyre sectors have played a major role in the recovery and rejuvenation of the domestic economy in general and exports in particular. The positive prospects and the vast future potential of the domestic natural rubber sector need to be harnessed. The rubber sector provides the much needed fuel to propel India's economic growth. The entire rubber value chain can now envision a growth-oriented future", he added.

India's rubber consumption had increased 22% in 2021, and the use of both natural and synthetic rubber has increased. The global demand for rubber too had gone up in 2021, registering a growth of 11%.

The growth of the sector was supported by investments and regulatory measures taken by the government and the private sector. "The government introduced incentives and reforms to improve the business climate. The government's policy of self-sufficiency also played a crucial role in the growth of the sector", said Mr. Budhraja.