According to data from India’s Ministry of Commerce, Vietnam was the fourth-largest supplier of rubber to Indiaduring the first nine months of 2021, exporting over 69,000 tons worth USD 132 million. This represents a 46.5% increase in volume and a 92% surge in value compared to the same period in 2020.
India’s Growing Demand for Imported Rubber
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India imported more than 867,000 tons of rubber, valued at USD 1.72 billion, in the first nine months of 2021 — up 41% in volume and 74% in value year-on-year.
Major suppliers to the Indian market include Indonesia, South Korea, Malaysia, Vietnam, and Thailand. Due to domestic production shortfalls, India continues to depend heavily on external sources to meet its growing demand for rubber.
Vietnam’s Expanding Share in the Indian Market
Vietnam’s rubber exports to India accounted for 8% of India’s total rubber imports, an increase of 0.3% compared to the same period in 2020.
In the category of natural rubber (HS code 4001), India imported 356,000 tons worth nearly USD 653 million, up 31.5% in volume and 66.7% in value year-on-year.
Vietnam ranked second among natural rubber suppliers to India, exporting 68,000 tons worth over USD 129 million — a 44.8% rise in volume and nearly 90% rise in value year-on-year.
Vietnam’s share of India’s natural rubber imports reached 19%, increasing by 1.7 percentage points compared to the previous year.
Synthetic Rubber Imports Also Rising
India also increased imports of synthetic rubber (HS code 4002) to nearly 426,000 tons, valued at USD 912 million, up 52.2% in volume and 85.7% in value compared to the same period in 2020.
However, Vietnam’s market share in this segment remained modest, accounting for just 0.3% of India’s total synthetic rubber imports.
Outlook
Vietnam’s growing presence in India’s natural rubber market highlights its competitive export capacity, supported by stable supply, improved processing quality, and competitive pricing. With India’s automotive and manufacturing sectors expanding, Vietnam has significant potential to further strengthen trade relations and diversify export markets in South Asia.