MSMEs strike, protest high raw material prices
The Hindu
10 lakh units shut for a day: association
Micro, Small and Medium-scale Enterprises (MSMEs) across major industrial hubs in about 10 States downed shutters for a day on Monday protesting spiralling prices of raw materials.
The strike was total in places such as Coimbatore, Belgaum, and Mysore, said R. Ramamoorthy, spokesperson for the All India Council of Association of MSMEs, which gave the call for the strike. “MSME associations in States such as Maharashtra, Karnataka, Gujarat, Punjab, Madhya Pradesh and Odisha, had extended support to the strike. We estimate that almost 10 lakh MSMEs in the country stopped production on Monday resulting in production loss of almost ₹15,000 crore,” he added.
Several input materials used by MSMEs, including steel, aluminium, copper, kraft paper and plastic, have on average seen a 70% jump in prices in the last one year. In November and December, MSMEs were impacted by a slump in orders and piling up of stocks. “The market is not absorbing the high raw material cost,” he said. The units demand measures from the government to control raw material prices.
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