The MSME industries have boycott working on Monday pressing their request to take action on the rising raw material price hike as per the invite by the AICA.
Coimbatore: The MSME industries have boycott working on Monday pressing their request to take action on the rising raw material price hike as per the invite by the AICA.
The Micro Small and Medium Enterprises (MSMEs) in Coimbatore and in the entire nation, will remain closed today on 20th December condemning the raw material price hike. More than 60,000 industries, over 6-lakh employees protested from places including Sundarapuram, Peelamedu.
The cost of raw materials required by industries has risen sharply, across the country, since the corona virus pandemic period. The industry has expressed shock over the price hike of about 100 percent. The industry continues to allege that the fuel price hike has caused a spike in raw material prices. The agitators urged the Centre and the State Governments to intervene and curb the rise in raw material prices.
As part of this, the industry is now protesting by boycotting work here that has resulted in 6-lakh workers to lose jobs for a day. Production has also been affected to the tune of ₹.1,000-crores.
The industry has put forth a request to control raw material price hikes to make MSMEs continue to operate while adding that the sector has been hugely affected by economic losses due to the issue while they receive job orders.
Industry insiders have informed that the demonstration will be intensified in case the governments fail to take appropriate steps to reduce prices.
