Stainless steel which was sold for Rs 210 rupees is now being sold for Rs 245.
Coimbatore: Although the government has not imposed a complete lockdown, most of the small and micro industries are nearing the edge of shutting down temporarily.
COTMA has expressed their concern about this and has urged the government to take actions, to curb the prices of raw materials.
In a press release issued under C Sivakumar, the Coimbatore, Tiruppur Districts Micro and Cottage Industries Association (COTMA), it said, "We have not yet recovered from the damages caused by the first wave of Covid-19 and the second wave has already begun. We are actually forced to shut down, not because of Covid-19 but because of the upsurge in the price of raw materials."
He has pointed out that the mild steel which was sold for Rs 48 rupees 6 months back is now being sold at Rs 65. Stainless steel which was sold for Rs 210 rupees is now being sold for Rs 245. Brass which was sold for Rs 390 is now being sold for Rs 495 and Aluminium which was sold for Rs 190 is now being sold for Rs 250. Sivakumar also said that the price of copper has jumped from Rs 550 to Rs 730.
"The prices are skyrocketing before we start a project making it impossible for us to complete anything. The Central Government must take serious actions to curb the price hikes and must ensure the right pricing and availability of raw materials in abundance," Sivakumar appealed in the statement.
He has also said, "We have written a letter to the Prime Minister and other Central Ministers regarding this and we are actually hoping that a decision will be made soon."
COTMA has expressed their concern about this and has urged the government to take actions, to curb the prices of raw materials.
In a press release issued under C Sivakumar, the Coimbatore, Tiruppur Districts Micro and Cottage Industries Association (COTMA), it said, "We have not yet recovered from the damages caused by the first wave of Covid-19 and the second wave has already begun. We are actually forced to shut down, not because of Covid-19 but because of the upsurge in the price of raw materials."
He has pointed out that the mild steel which was sold for Rs 48 rupees 6 months back is now being sold at Rs 65. Stainless steel which was sold for Rs 210 rupees is now being sold for Rs 245. Brass which was sold for Rs 390 is now being sold for Rs 495 and Aluminium which was sold for Rs 190 is now being sold for Rs 250. Sivakumar also said that the price of copper has jumped from Rs 550 to Rs 730.
"The prices are skyrocketing before we start a project making it impossible for us to complete anything. The Central Government must take serious actions to curb the price hikes and must ensure the right pricing and availability of raw materials in abundance," Sivakumar appealed in the statement.
He has also said, "We have written a letter to the Prime Minister and other Central Ministers regarding this and we are actually hoping that a decision will be made soon."