Suffering from the rising prices of the natural rubber prices, the tyre manufacturers may hike product prices by up to 25 percent to offset rising input costs. Notably, the announcement comes after several attempts to bring the cost of the product down.

Moreover, the Automotive Tyre Manufacturers' Association (ATMA) recently met the Prime Minister Manmohan Singh to find a solution to tame the rising rubber prices but it is believed that the attempts have failed so far. It may be noted here that ATMA wrote to Prime Minister Manmohan Singh in March this year seeking government intervention for the control on the rising rubber prices.

Apart from excluding the natural rubber from negative lists under regional trade agreements, ATMA also requested the government to reduce the import duty on natural rubber and ban it's trading in future agreements. The tyre majors have already announced a round of hike in the Indian market but are of a view that several more could well be executed to take control over the rising costs.

In fact, ICRTMA Chairman Rummy Chhabra also said that the cycle and rickshaw tyre makers will also have to opt for a price rise if any solution to the rising natural rubber prices doesn't happen soon.