Input Troubles A significant spike in prices of key raw materials post lockdown has thrown a curveball at the revival story of India Inc Illustration by Siddhant Jumde After an unprecedented year in 2020, Indias manufacturing sector is already facing its first major challenge in 2021 - rising raw material prices. Since the economy started opening up in May last year, prices of key inputs such as steel, copper, aluminium, rubber, plastic and cement have gone up sharply. Depending on the grade, prices of steel have shot up between 24 and 50 per cent. Since August, the average monthly price of hot rolled coil - a benchmark grade of the commodity - has risen by over Rs 14,000 per tonne to Rs 65,044 per tonne in December, a near 30 per cent jump. Similarly, copper prices have gone up by 25 per cent, rubber by 35 per cent and aluminium by 13 per cent. Prices of cement have grown at a more sedate pace, but over a much longer period of time - more than 16 per cent since January 2019.