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Coimbatore: The constant hike in fuel prices has hit the micro, small and medium enterprises (MSMEs) in the district hard at a time when they are struggling to remain afloat after the lockdown-induced shutdown for nearly two months. On Tuesday, petrol and diesel prices shot up to Rs 101.27 and Rs 94.44, respectively, in the district.
J James, district president, Tamil Nadu Association of Cottage and Tiny Enterprises, said the hike in fuel and raw materials had dealt a big blow on the MSMEs, which were struggling to revive from the impact of the lockdown.
Pointing out that most of the raw materials were brought to the city from other states, especially northern parts of the country, he said the transportation charges had doubled in the past two years.
Customs Duty cut expected to bring down raw material prices
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Engineering units in Coimbatore will benefit from the Budget proposal
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Engineering units in Coimbatore will benefit from the Budget proposal
The Union Budget announcement on Monday reducing Customs Duty on steel and ferrous and non-ferrous scrap is expected to bring down raw material prices for the engineering units in Coimbatore.
According to the Coimbatore District Small Industries Association president M.V. Ramesh Babu, several announcements are expected to benefit the MSMEs. For metal recyclers, import duty is exempted till end of March next year.
Indian Chamber of Commerce and Industry, Coimbatore, president C. Balasubramanian, said the government had taken the right steps in the budget and planned to increase its spending in different sectors. Coimbatore was a hub for textiles and MSMEs and the announcements would benefit these sectors. A mega textile park should be established h
Coimbatore: Pump manufacturers here increased the price of all models by 15% from Friday due to rising cost of raw materials.
Prices of raw materials have increased by 10 to 40% in the last two months along with the price of spare parts, said K Maniraj, president of the Kovai Power Driven Pumps and Spares Manufacturers Association (Kopma). “Despite several requests, the central and the state government failed to take steps to control the price hike. So, we decided to increase the price of all varieties – household, industries and agriculture – by 15% from Friday.”
Meanwhile, members of the Railway Suppliers Association (Rasa) submitted a petition to the railway, requesting to settle bill payments at the earliest. “Even though the railway board has issued two circulars instructing officials to release the MSME bill payments without delay, the bills are much delayed. As railway delays the bill payment, suppliers are unable to complete their orders on time. Store officials
Coimbatore: More than 400 small-scale foundries in the district downed their shutters indefinitely on Wednesday to condemn the central and state governments for their inaction in controlling the spiraling prices of raw materials.
The shutdown would affect lakhs of workers who are working in and with foundries and other industries including pumps, textile machinery, automobiles and other engineering industries.
“The price of raw materials has increased up to 30% since November. When about 80% of our investment is required to procure raw materials, it is impossible to continue doing business mainly for the small-scale industries who had been working with minimal profit margin. Even though half of our customers have agreed to revise the price, we decided to continue the strike. We want to gain the attention of both the state and central governments who remain silent despite escalating the issue multiple times,” president of Coimbatore Tiny and Small Foundry Owners Association (C