US-China trade war has positive impact on Indian rubber products industry
Chennai : The US-China trade war is having a positive rub-off effect on the Indian rubber industries as they are now witnessing a trend in increased export orders to the USA, said officials of the All India Rubber Industries Association (AIRIA) here on Tuesday.
"The US-China trade war is positive for the Indian rubber industries that are exporting to the US. There are some rubber products for which getting approvals from the US companies are relatively easier. The trade war is a positive for such product makers," AIRIA President Vikram Makar told reporters.
Indian companies exporting rubber products to the US will have increased stability because of the trade war, he added.
He was here as part of the road show organised by AIRIA for its "India Rubber Expo 2019" to be held next month in Mumbai.
According to V.T. Chandhrasekharan, Senior Vice President, the US-China trade war is definitely a positive for the Indian industry.
Makar said the Indian rubber products industry is estimated to be around $7 billion.
Speaking about the India Rubber Expo, Chandhrasekharan said two reverse buyer-seller meets (international and domestic) will be held which in turn is expected to increase exports from India.
"As per our information, about $4 million business was transacted after such a buyer-seller meet held during the last edition of India Rubber Expo," Makar added.
About 300 exhibitors from India and overseas will be exhibiting their products -- ranging from raw material producers, rubber machinery, testing instruments and others, said Vishnu Bhimrajka, Chief Convener of India Rubber Expo 2019.