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Mar 27, 2024
DRBSM: A Game changer for domestic and international trade

The India Rubber Expo (IRE) 2004 in Mumbai witnessed a groundbreaking development with the introduction of the Domestic Reverse Buyer-Seller Meet (DRBSM). This initiative marked a paradigm shift from the traditional focus on international buyers at expos. By strategically connecting domestic Original Equipment Manufacturers (OEMs) and government bodies with Indian rubber product manufacturers, the DRBSM has the potential to revolutionize the Indian rubber industry.

Breaking the Import Chain: A Self-Reliant Approach

Traditionally, buyer-seller meets at industry expos have primarily catered to international buyers and importers. This approach, while beneficial for expanding export reach, often neglects the immense potential within the domestic market. The DRRSM at IRE 2024 addressed this gap by creating a platform specifically designed for domestic engagement. This shift in focus empowered Indian rubber product manufacturers to directly engage with potential clients within the country, fostering one-on-one interactions and reducing dependence on foreign importers

Aligning with Atmanirbhar Bharat: Bridging the Gap

The Indian rubber industry faces a unique challenge- certain comical rubber products are currently being imported. For instance, the Unit of Armoured Vehicles Nigam Ltd. (Avadi Chennai), a crucial entity in India's defense sector, requires over 70 rubber products, including gaskets, oil seals sand casings. These products care presently sourced from Russia, creating an unnecessary reliance on external suppliers. Recognizing this critical gap, the DISM perfectly aligned with the government's ambitious Atmanirbhar Bharat (Self-reliant India) initiative. The meet served as a catalyst, encouraging domestic rubber product manufacturers to participate in vendor registration schemes and become suppliers to the defense sector. This not only promotes self-sufficiency but aha strengthens India's national security posture.

A Promising Start: Setting the Stage for Growth:

The DRBSM at IRE 2024, held on March 20th and 21st, 2024, witnessed a promising start with over 44 productive meetings between potential buyers and sellers. This initial success highlights the significant demand for domestically produced rubber products. The event attracted participation from several key government organizations, each playing a vital role in shaping the Indian rubber industry landscape land

Research Designs & Standards Organization (RDSO):

As the sole R&D organization for Indian Railways, RDSO plays a pivotal role in technical oversight and procurement for various railway projects. Their participation at the DRRSM indicates a significant opportunity for rubber product manufacturers to cater to the vast requirements of the Indian Railways

Government e Marketplace (GeM):

Established under the guidance of the Prime Minister's Office, GeM is a dedicated online platform for government procurement. This platforms promotes transparency, efficiency, and ease doing business for for both government agencies and suppliers. The presence of Nadeem Iqbal Chougule, Business Facilitator at GeM, at the DBSM added more value to the meetings as he highlighted the benefits of joining the GeM portal for increased business visibility and potential for government contracts.

India's Rubber Powerhouse: A Global Leader in the Making

India boasts a unique advantage in the global rubber market. As the world's second-largest rubber industry with abundant natural rubber plantations and a robust synthetic rubber production capacity, India in well-positioned to become a major supplier in the evolving global supply chains. The DRBSM at IRE 2024 specifically focused on connecting rubber chemicals and raw material suppliers with a targeted audience of small and Medium enterprises (SMEs) and micro, small and medium enterprises (MSME) This facilitated smoother interactions and potential partnerships, fostering a collaborative ecosystem within the domestic rubber industry.

The Power of Reverse Buyer -Seller Meets: Fostering Mutually Beneficial Partnerships

The core objective of any Reverse layer-Seller Meet is to create a platform for targeted buyers and sellers to directly interact, explore business opportunities, and understand each other's needs and requirements. This not only fosters mutually beneficial partnerships but also optimizes economic gains for both parties. By eliminating Intermediaries and facilitating direct communication, the DRESM empowers manufacturers to showcase these capabilities and tailor these offerings to meet the specific needs of domestic buyers. This not only translates to increased sales and market share for manufacturers but also ensures that domestic layers have access to high quality, competitively priced rubber products.

India's Strategic Position in a Changing World

The current geopolitical and economic landscape presents a compelling opportunity for India. As global supply chain undergo reorganization due to various factors, including trade tensions and a growing focus on self-reliance, India's position as a major rubber industry player is highly favorable. Initiatives like the DRBSM at IRE 2024 become even more relevant in this context, acting as effective discovery mechanisms for establishing new partnerships.

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© Copyright All India Rubber Industries Association. All Rights Reserved.