High raw material prices hit MSMEs in the automobile sector

Jayakumar, who runs an MSME unit at the SIDCO Industrial Estate here, used to take up machining for foundries that supply to the automobile sector. The last two months have seen a slump in orders and

Jayakumar, who runs an MSME unit at the SIDCO Industrial Estate here, used to take up machining for foundries that supply to the automobile sector. The last two months have seen a slump in orders and was temporarily shut ahead of Deepavali.

“I do not know when the auto sector will revive. Hence, rather than keeping the unit idle, we are trying to do orders for other sectors as we need to repay loans and meet other fixed costs,” he said.