The Centre is planning rubber plantations on 2 lakh hectares in the North-Eastern region over the next five years helping it emerge as a hub for rubber production, Commerce and Industry Minister Piyush Goyal has said.
Tripura is the second largest producer of rubber in the country with 30,000 hectare cultivation, the Minister pointed out in his virtual address at the “Destination Tripura - Investment Summit” on Thursday.
‘Huge potential’
Highlighting the huge potential for growth in the rubber sector, Goyal said the State should take advantage as the early harvester to expand its rubber plantations, according to an official release issued by the Commerce and Industry Ministry. The tyre manufacturing industry, too, is playing a role in expansion of rubber plantations in the country, the release stated. Tyre makers are looking for a long term solution to the recurrent problem of shortage of high quality raw material.
Four major tyre companies represented by Automotive Tyre Manufacturers Association have agreed to contribute ₹1,000 crores over five years for rubber plantation development in 200,000 hectares of land in the seven States of North East India. A Memorandum of Understanding was signed between Rubber Board and ATMA in March 2021.
A transfer of ₹12 crore has already been made by the rubber companies to the account set up by Rubber Board on May 20 2021, the release said. Funds provided by the companies are being used for procuring planting materials for starting planting operations in 2021. Goyal also stressed on the scope that bamboo cultivation held for Tripura, which is home to the largest bamboo flooring unit. “Tripura has the potential to emerge as the country’s hub of agarbatti industry and make India Atma Nirbhar in bamboo, often called the ‘Green Gold’ industry,” the Minister said.