India’s ATMA Seeks NR Duty Reduction

India’s Automotive Tyre Manufacturers’ Association (ATMA) is seeking to have the customs duty on natural rubber waived in order to help domestic manufacturers compete against imported tyres. The issue was undoubtedly raised when Apollo Tyres chairman and managing director Onkar S Kanwar met with officials from India’s finance ministry on behalf of the ATMA in early June; as part of its pre-budget memorandum, the industry association has requested a reduction in the customs duty on natural rubber to 10 per cent from the current 20 per cent level. Alternatively, it has been suggested that the duty on the import of tyres could be raised to 20 per cent.

Tyre imports from China and Korea, which account for nearly 80 per cent of all imports, currently attract 8.6 per cent duty under the Asia Pacific Trade Agreement. .