India tyre firms lobby to rein in rubber prices

Newswire

NEW DELHI, April 27 (Reuters) - India's $2.3 billion tyre industry, hurt by rising natural rubber prices, has asked the government to scrap subsidy on rubber exports and reduce levies to help bring down its price. The Automotive Tyre Manufacturers' Association (ATMA) said in a statement on Tuesday the average price of natural rubber in the financial year ended March jumped 33.6 percent from the previous year to 52,350 rupees ($1,184) a tonne. Hit by rising rubber prices, India's top tyre ...

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