India elected for chairmanship of International Rubber Study Group.

Why in news?

• India has been elected for the Chairmanship of the International Rubber Study Group (IRSG), an Inter-governmental organisation of natural rubber (NR) and synthetic rubber (SR) producing and consuming countries.
• India succeeds Cote’d Ivoire as the chairman of IRSG.
• KN Raghavan, Executive Director of Indian Rubber Board and the Head of the Indian delegation to IRSG will officiate as the Chairman of IRSG for the next 2 years.

About International Rubber Study Group(IRSG):

• Members- Cameroon, Cote d’Ivoire, European Union, Indi, Nigeria, Russia, Singapore, Sri Lanka
• Formed in 1944, IRSG is headquartered in Singapore.

Roles of IRSG:

• IRSG is the only forum for NR and SR producers and consumers to discuss matters affecting the world rubber industry and act as an interface between government and the Industry.
• IRSG will collect and share the statistics on the production, consumption and trade in NR and SR across the globe.
• It is the only International commodity body which is approved by the Common Fund for Commodities for development financing in rubber sector.