According to AICA, the price of mild steel plate has gone up by 82.22%, aluminium alloy by 94.34%, copper by 109.86%, pig iron by 50%, MS scrap by 48.15% and PVC pipe by 47.44%, since April 2020.
COIMBATORE: At least 170 associations of micro, small and medium enterprises (MSMEs) in the country have come together to seek the Union government’s immediate intervention in controlling the price hike of raw materials. They petitioned the Centre on Wednesday.
In a press note, the All India Council of Association of MSMEs (AICA) said there was a steep rise in the price of raw materials, especially that of steel and pig iron, despite their low consumption and significant drop in the production during the lockdown.
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