Indian government to launch insurance scheme for plantations

KOCHI: The government of India is in the process of launching an insurance scheme for plantation sector, including rubber which would cover price fluctuations among other perils, with premium shared by Central Government, state governments and beneficiaries,, according to Rajani Ranjan Rashmi, additional secretary, Ministry of Commerce.

Delivering the inaugural address at the two day annual India Rubber Meet 2016 jointly organized by the Rubber Board in partnership with stakeholder associations in rubber and related sectors at Goa he said: ``Our primary aim is to make things here and sell them everywhere underlying the "Make in India" vision of our Prime Minister. Government of India is keen in the overall development of the rubber industry value chain starting from rubber growers to consumers of end products.”

Dr. A Jayathilak, Rubber Board chairman said the low prices will have a critical bearing on planting and replanting decisions and future availability of NR. ``Providing safety nets for small-holders to protect them against price and other risks, beneath the prevailing socio-economic and political environment, is a critical task which has to be deliberated seriously,” he said.

The meet is a major initiative of the Indian rubber industry to organise a regular forum for interaction, networking and exchange of information. The theme of IRM 2016 is `Rubber Scenario: What lies ahead?’ reflecting the present rubber sector situation, overshadowed by uncertainties emanating from macro-economic and other sector-specific developments. Over two days, trends, challenges and prospects of the rubber sector will be discussed by world renowned experts and industry leaders.