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The United Planters’ Association of Southern India (UPASI) is not in favour of lowering the import duty on natural rubber (NR). The current import duty stands at 25 percent. They have urged the government not to give in to the tyre manufacturers’ demand for a reduction in the import duty on natural rubber.
Expressing concerns regarding the reduction of import duty on natural rubber, Vinod Sivappa, President (UPASI), said, the association is of the view that taking such decision will be against the interest of 1.2 million growers who are dependent on this agro industry for their survival.
On the other hand, tyre manufacturers of the country who are the major consumer of natural rubber are asking the government to think about reducing import duty on import of natural rubber.
He also said, the current import duty is wrongly fixed and is already very low. Reducing it more will not make sense especially knowing the fact that there is surge in imports in the last couple of years.
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