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Currently facing a slowdown, the furnace industry and the sewing machines and parts industry are now contemplating having two weekly offs, as against

Ludhiana Induction Furnace Steel Mills Seek Steel Price Regulator Times of India reported that Ludhiana based steel furnace industry representatives met the new Steel Minister Mr Ramchandra Prasad 19 Jul, 2021 , 3:54 am Times of India reported that Ludhiana based steel furnace industry representatives met the new Steel Minister Mr Ramchandra Prasad Singh at his office in New Delhi recently and discussed issues being faced by the industry especially the factories located in Punjab including setting up of a steel regulatory authority, which should monitor rates of steel raw material and take a...

In wake of the situation, businessmen are either overdrawing their bank limits or are requesting their dealers to increase credit days till the time the payment cycle resumes back to normal. LUDHIANA: After the ending of lockdowns in other states and the resumption of the movement of finished goods, the city industrialists are now facing fund crunch. According to businessmen, for over two months, the payments from majority of their customers for already supplied orders remained pending due to lockdown and now they are short of funds to execute the new orders immediately. In wake of the situa...

Ludhiana: In the last one year, steel manufacturers have suffered a big blow due to uncontrollable rise in the rates of steel. According to them, there has been 20 to 100% increase in the rates of different types of steel products since July 2020, despite a huge fall in the demand for steel. Maninder Pal Guliani, president of Ludhiana Beopar Mandal, said, “Because of the huge increase in the rate of steel raw material of different types, not only manufacturers of engineering goods but also small-time steel traders have been destroyed. The situation is such that the minimum hike is of 20% wh...

Ludhiana: Claiming that the second wave of coronavirus has struck them a heavy blow, local industrialists are demanding a relief package for micro, small and medium enterprises (MSME). Cautioning that if nothing is done at the earliest by the Centre and the state governments, thousands of units in Ludhiana might shut down permanently. Businessmen are also angry with the GST council for failing to announce any rate cuts on auto parts, paints and consumer durables that have a high tax rate of 28%. According to Jagbir Sokhi, president of Sewing Machine Development Club, “Many units in MSME s...