Coimbatore: In a protest to take control over the pricing of the raw materials, 400 foundry companies have called for an indefinite strike.
Coimbatore: In a protest to take control over the pricing of the raw materials, 400 foundry companies have called for an indefinite strike.
When asked about this indefinite strike, Coimbatore Foundry Entrepreneurs Association head Siva Shanmuga Kumar said that "the foundry industry has been heavily affected due to the hike in price of the raw materials. The hike in price has now led to insufficiency in raw materials."
He also said that the foundry entrepreneurs are on this indefinite strike to bring this to the notice of the government so that they would take control of the pricing.
Siva Shanmuga Kumar said almost 400 foundries in Coimbatore have participated in this indefinite strike which is said to create about ₹30 crore production per day. Around 2 lakh workers from these foundries have now lost their jobs.
He also said that other industries which produce wet grinders, motor pumps, automobiles and engineering works are all affected with this indefinite strike.
COTMA as a support to this strike announced by foundry entrepreneurs has announced to go on strike in Tirupur today.
Sivakumar, president of COTMA said that over 50 thousand small scale and medium scale industries run based out of Coimbatore and Tirupur and the livelihood of over 7 lakh workers are based on these industries.
He also said that the foundries are responsible for making wet grinders, motor pumps, automobiles spare parts, engineering works and spare parts of textile machines. These companies produce these spare parts from raw materials such as steel, aluminium, copper and other important minerals and raw materials which are bought from other neighbouring states.
Sivakumar also said that in Coimbatore over 600 foundries are running at its best and over the past 4 months the hike for raw materials such as coal, pig iron and scrape have increased from 15 to 60%.
He also said that the Central Government should take special attention to this issue and must take control over the price of raw materials and their availability in India.
When asked about this indefinite strike, Coimbatore Foundry Entrepreneurs Association head Siva Shanmuga Kumar said that "the foundry industry has been heavily affected due to the hike in price of the raw materials. The hike in price has now led to insufficiency in raw materials."
He also said that the foundry entrepreneurs are on this indefinite strike to bring this to the notice of the government so that they would take control of the pricing.
Siva Shanmuga Kumar said almost 400 foundries in Coimbatore have participated in this indefinite strike which is said to create about ₹30 crore production per day. Around 2 lakh workers from these foundries have now lost their jobs.
He also said that other industries which produce wet grinders, motor pumps, automobiles and engineering works are all affected with this indefinite strike.
COTMA as a support to this strike announced by foundry entrepreneurs has announced to go on strike in Tirupur today.
Sivakumar, president of COTMA said that over 50 thousand small scale and medium scale industries run based out of Coimbatore and Tirupur and the livelihood of over 7 lakh workers are based on these industries.
He also said that the foundries are responsible for making wet grinders, motor pumps, automobiles spare parts, engineering works and spare parts of textile machines. These companies produce these spare parts from raw materials such as steel, aluminium, copper and other important minerals and raw materials which are bought from other neighbouring states.
Sivakumar also said that in Coimbatore over 600 foundries are running at its best and over the past 4 months the hike for raw materials such as coal, pig iron and scrape have increased from 15 to 60%.
He also said that the Central Government should take special attention to this issue and must take control over the price of raw materials and their availability in India.