Coimbatore: Abnormal price increase and scarcity for raw materials hits hard on the manufacturing sector. In one day, Steel price has increased by ₹4,000 per tonne.
Coimbatore: Abnormal price increase and scarcity for raw materials hits hard on the manufacturing sector. In one day, Steel price has increased by ₹4,000 per tonne.
The Federation of Coimbatore Industrial Association (FOCIA) coordinator, S. Surulivel said, "Continuing Abnormal price hike of raw materials has pushed the entire MSME industry sector across Coimbatore to Crisis. Various requests has been sent to the central ministers by many industry Associations. But still no action has been taken by Central Government.
The raw materials price Continue to increase abnormally. Yesterday (Monday) in one night alone the price of steel has increased by Rs 4,000 per tonne. The price of steel today is Rs 76,000 per tonne. Traders are purchasing raw materials in bulk quantity and creating artificial demand. At present the market is good.
But the abnormal price of raw materials has pushed the entire MSME manufacturing sector to crisis. Our Association consists of 19 industry Association and on behalf of our Association 'FOCIA' we have decided to meet the central ministers soon. Excess exports of Iron ore is also a main reason for the steep price hike of raw materials. If the needy steps are not taken soon the impact Wil be worse on the entire MSME sector."
The Federation of Coimbatore Industrial Association (FOCIA) coordinator, S. Surulivel said, "Continuing Abnormal price hike of raw materials has pushed the entire MSME industry sector across Coimbatore to Crisis. Various requests has been sent to the central ministers by many industry Associations. But still no action has been taken by Central Government.
The raw materials price Continue to increase abnormally. Yesterday (Monday) in one night alone the price of steel has increased by Rs 4,000 per tonne. The price of steel today is Rs 76,000 per tonne. Traders are purchasing raw materials in bulk quantity and creating artificial demand. At present the market is good.
But the abnormal price of raw materials has pushed the entire MSME manufacturing sector to crisis. Our Association consists of 19 industry Association and on behalf of our Association 'FOCIA' we have decided to meet the central ministers soon. Excess exports of Iron ore is also a main reason for the steep price hike of raw materials. If the needy steps are not taken soon the impact Wil be worse on the entire MSME sector."