Revised Rubber (Promotion and Development) Bill, 2023
The Revised Rubber (Promotion and Development) Bill, 2023, is an initiative by the Indian Union Government aimed at modernizing and promoting the rubber industry in India. The Bill focuses on replacing the Rubber Act of 1947 to address contemporary challenges in the industry, such as falling rubber prices, high labor costs, and increasing import competition. It proposes changes to the Rubber Board’s structure, including quality standards and stakeholder representation. The Bill has attracted both support for its potential to strengthen the sector and criticism for certain exclusions and lack of emphasis on vital areas like research. Going forward, measures such as promoting research and development, adopting new technologies, providing financial support, and strengthening market linkages are suggested to revitalize the industry.
