Entrepreneurs across the country are set to stage a full-blown strike on the 20th to condemn rising raw material prices. In Coimbatore, all the Federation of Industries executives have announced that 100 percent of small and micro enterprises in Tamil Nadu will participate in the full blockade.
Coimbatore: Industry federation executives met reporters in Coimbatore to condemn the rise in raw material prices. Speaking at the time, Federation Administrator Ramamurthy said, that all companies including CRI, TEXMO and PRICOL in Coimbatore would be participating in protest on the 20th and 100 percent small and micro enterprises in Tamil Nadu would participate in the protest. About 250 organizations across India are expected to participate in the protest and the price of these raw materials has gone up by 30 to 200 per cent.
Similarly the pumpset industry is in a deep recession. The cost of production for entrepreneurs has increased by 40 percent. The federation officials said that the central government should intervene and control the price of raw materials and the general public should be affected by the rise in prices of raw materials.
They demanded that exports to foreign countries should be stopped when prices are high. They also demanded that exports of iron and various raw materials required by entrepreneurs should be stopped as they were imported from abroad and that exports should be reduced or stopped as per the domestic demand as India has high human resources. Due to Covid-19 and the rising cost of raw materials companies have been operating for 6 months in the last three years whereas they have met the needs of the workers. According to union officials, the one-day protest in India will affect the production of Rs 25,000-crore and the production of Rs 1,500-crore in Coimbatore.
