Coimbatore industrial association to protest on 15th against increasing price of raw materials that is freezing their business
Coimbatore: Coimbatore industrial association to protest on 15th December against increasing price of raw materials that is stallingtheir business.
Co-ordinator on behalf of the Coimbatore Industrial Organizations, James told reporters that small and micro entrepreneurs are suffering the most due to rising raw material costs. Steel prices rose by 25 per cent, copper by 30 per cent, aluminum by 17 per cent and other plastics-related raw materials by 40 per cent.
He said that due to the sudden rise in the price of raw materials, those who had already received job orders could not produce the goods at the previousluy quoted prices causing suffering in all aspects.
He said that next to agriculture, small and micro entrepreneurs flourish in the country. He said, "The Central and State Governments should consider this and fulfill our demands. The price of raw materials should be fixed in the same way as the minimum price is fixed for farmers. The price of raw materials should not change for a year."
He added, "Entrepreneurs affected by GST, corona, raw material price hike should be levied only up to 5 per cent GST on small and micro enterprises to recover. A protest will be held in Coimbatore on the 15th to assert these demands. Also the warehouse closed for overhead bridge works in Peelamedu should be reopened".
He urged that a Price Monitoring Committee should be set up to control the rise in prices of raw materials. They demanded that raw materials warehouse in Coimbatore needs to be reopened and storage of raw materials should be prevented and be completely exempted from import duty on raw materials.
During the meeting, he was accompanied by executives from various companies such as COSIEMA, COWMA, COSMA, TACT, COSMAFAN.