Condemning the steep rise in the price of raw materials, the owners of over 1000 foundry units, functioning in and around Coimbatore have struck work for a day. The one-day flash strike is observed to register their protest against the rising price of raw materials including of, coal, and sand.
The foundry unit owners have demanded that the Government should take proper measures to check the increasing prices of raw materials, due to which the ailing sector has fallen on evil days. “While the price of raw materials keeps on rising, on the one hand, the rising labour costs of 10 % to 15%, also pose problems for us. The foundry units, which are supplying raw materials found it very difficult to translate it to the buyers,” said the foundry unit owners.
Praying that the state intervenes to regularise prices of raw materials for the foundry units, it was suggested that the Government streamline the whole process to regularise the price of raw materials by procuring raw materials and supplying it to the founder units. This measure would lead to price control of raw materials.
The foundry units are supplying cast iron and other spare parts to various manufacturing SME industries including textile and domestic appliances. Over two lakh workforce is directly employed in this sector another 5 lakh workers are indirectly employed.
According to industry experts, the one-day strike would cost the foundry units an estimated Rs.150 crore loss.
The foundry unit owners have demanded that the Government should take proper measures to check the increasing prices of raw materials, due to which the ailing sector has fallen on evil days. “While the price of raw materials keeps on rising, on the one hand, the rising labour costs of 10 % to 15%, also pose problems for us. The foundry units, which are supplying raw materials found it very difficult to translate it to the buyers,” said the foundry unit owners.
Praying that the state intervenes to regularise prices of raw materials for the foundry units, it was suggested that the Government streamline the whole process to regularise the price of raw materials by procuring raw materials and supplying it to the founder units. This measure would lead to price control of raw materials.
The foundry units are supplying cast iron and other spare parts to various manufacturing SME industries including textile and domestic appliances. Over two lakh workforce is directly employed in this sector another 5 lakh workers are indirectly employed.
According to industry experts, the one-day strike would cost the foundry units an estimated Rs.150 crore loss.