What is the importance of rubber in indian economy?
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It plays a vital role in Indian economy because of the uses and importance of rubber all over the world.The rubber industry has more than 12000 crore turnover in India.India is the third largest producer and fifth largest consumer of natural rubber and synthetic rubber together in the world.It caters the need in defence sector( civil, aviation, aeronautics) railways, agriculture, transport , textile engineering industries, pharmaceuticals, mines, plants, ports, family planning programmes, hospitals and sports.It almost cover every conceivable area.Rubber products have significant contribution in Export.It exceeds 2000 crore according to recent estimate.Kerala and Tamil Nadu are leading producer of Rubbers.
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Rubber plays a crucial role in the Indian economy. It provides the principal raw material for manufacturing over 35000 varieties of products ranging from toy balloons to giant size tires. It provides employment to a sizeable population in its agricultural sector, and a sizeable number makes their living from processing, transporting and marketing rubber goods. Rubber plantations thus contribute substantially to economic prosperity in rubber growing areas. The Indian rubber goods manufacturing industry heavily depends on natural rubber which accounts for 80% of the total raw material.
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