Regional Comprehensive Economic Partnership Agreement and Indian Rubber Industry: Need for energising competitiveness
Mumbai, June 4 -- India has given ample tariff protection to the domestic natural rubber (NR) production sector by excluding all the major forms of NR from the purview of tariff reduction/elimination commitments under the ASEAN India Free Trade Agreement (AIFTA). Conversely, a large number of value-added rubber products were classified either for tariff reduction or for tariff elimination under AIFTA. However, the negative balance of trade of India in rubber and rubber products is widening, especially after the entry of AIFTA during the year 2010
The growing negative balance of trade of India and the threat of growth in import of rubber and rubber products during the post-AIFTA phase was analysed and documented by Joseph and George (2016...
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