Industry & Economy
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Events
Mumbai to host Rubber Expo 2005
Our Bureau
Mumbai
,
Jan. 17
THE Indian rubber industry has received encouraging response from both domestic and global players to the India Rubber Expo 2005, to be held in Mumbai from February 23 to 26.
"Over 6,000 square metres of area at the Expo venue has already been sold out. We are expecting the Expo to register a business transaction of over Rs 500 crore, as compared to the Rs 250 crore generated by the India Rubber Expo 2003," according to Mr Anil Sampat, Chairman of India Rubber Expo 2005 and former President of the All-India Rubber Industries Association.
The global rubber products business is worth $100 billion (around Rs 4,36,700 crore), out of which the US alone accounts for $60 billion (around Rs 2,62,000 crore), while India's total export of rubber products (tyres and non-tyre) is $0.5 billion (around Rs 2,183 crore), he pointed out.
The industry has been recording an increasing flow of outsourcing orders from the US in the area of rubber products.
"India already has success stories in the form of Cabbot India, Dow Corning India Ltd, Kloeckner Desma Machinery Germany, Rohm and Haas India and Sumitomo India and we estimate each one of them to enlarge their presence. This is giving positive signals to the second level companies globally to come and start operations in India," Mr Sampat said.
Some of the new international exhibitors expected to participate in the expo include Alfa Mirage Co Ltd Japan, KeyCom Industrial from Taiwan, Sun Rubber Industry from Malaysia and Sunjin Machinery from South Korea as they too have been bitten by the outsourcing bug.
Larger companies such as Lord Corporation USA, Panstone Hydraulic of Taiwan, Shimadzu Asia Pacific of Singapore and LoadStar and FlexFeb of the US have also begun to show interest in India.
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