All India Rubber Industries Association

From the President's Desk

Dr.Sawar Dhanania,
(President, AIRIA)

Dear Members,

Happy New Year to all the members of the rubber fraternity!  May this year bring you new joys, goals, achievements, and inspirations!  AIRIA wishes you a prosperous and fruitful year ahead!  After working with AIRIA for quite a while, I'm struck by the influence our organisation has over the Indian rubber industry and trade - influence that stems from our organization's working relationships with the government and other allied bodies, as well as our members' efforts to move our industry forward.  My own experience has been that our Association is becoming increasingly supportive and deeply cares about the impact of its activities on the businesses it serves.

For the 17th month in a row, global manufacturing production increased in November. The PMI graph showing expansion mode, the euro region remained the dominant growth spot, with four of top five countries (Italy, Netherlands, Ireland and Greece) hailing from the Euro zone. 

In India, industrial activity also increased at its fastest rate in ten months in November, as companies increased input purchases in response to stronger demand and improved market conditions, according to reports.  India’s total merchandise exports in November 2021 were estimated to be US$ 30.04 billion, up by 27.16% from November 2020 while the imports shot up by 56.58%. The Govt. has yet to release the sector- and item-specific figures for November 2021.

However, in April-October 2021 our export of "Rubber & Articles thereof" (HS 40) was valued at US$ 2,613.45 million, exhibiting a positive a growth of 61.94% vis-a-vis the same period last year.  India has signed eleven RTAs/FTAs with different nations/regions, including Japan, South Korea, Mauritius, ASEAN countries, and SAARC countries. In the last five years, India's merchandise exports to these countries/regions have increased by 20.75%.  It is apparent that the government has been making and channelizing efforts to raise exports and thus their share of GDP through a target-driven approach that involves all stakeholders from all states and districts. Despite the pandemic, India's overall exports (goods and services) contributed 18.7% to GDP in 2020-21, which is already more than 15%. In FY 2022 our exports performed exceptionally well and accounted for 21.7% of GDP in the first-half of 2021-22 (April to September).

To sum up, I believe that there are massive global upheavals and concerns to deal with, such as climate change and shifting political and economic power. Our world is rapidly changing, to put it frankly. Firms will need to learn to adjust as a result. Small firms may be able to regain their footing by comprehending new business trends.

Thanking you,
(Dr.Sawar Dhanania)
President, AIRIA.