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Coimbatore: Industrial bodies here on Friday extended congratulations and best wishes to DMK chief M K Stalin, who was sworn in as the chief minister of Tamil Nadu, and urged him to take measures to check the spread of Covid-19. The Coimbatore Tirupur Districts Micro and Cottage Entrepreneurs Association (Cotma) urged the CM to take steps to ensure uninterrupted oxygen supply to hospitals.
Cotma members requested him to control the rising price of raw materials including steel and pig iron and to ensure uninterrupted supply of raw materials to domestic industries. They urged him to take steps to provide loans with minimum interest to industries.
Coimbatore: As many as 16,967 micro small and medium enterprises (MSMEs) have registered at the Udyam registration portal in the district as on Friday.
The District industrial Centre (DIC) had warned the industrialists not to become prey to fraudulent activities as the registration process should be carried out only at http://udyamregistration.gov.in and it is free of cost.
The central government has recently reclassified the definition of MSMEs with effect from July 1, 2020. With an investment in plant and machinery or equipment up to Rs 1 crore and an annual turnover of up to Rs 5 crore is a micro unit. A unit with an investment in plant and machinery or equipment up to Rs 10 crore and a turnover of Rs 50 crore is a small unit. Those units with an investment in plant and machinery or equipment up to Rs 50 crore and a turnover of Rs 250 crore are medium units, according to an official from DIC.
COIMBATORE: Like other industries in the district, micro industries too have started to feel the pinch of rising price of raw materials.
To tide over the current crisis and minimize the loss, micro industries in the district have demanded the product manufacturers to accept rise in price of spare parts supplied to them by 30%.
Following the increase in price of raw materials, the product manufacturers had increased the price of their products by considerable percentage but most of them are not ready to buy spare parts with revised price hike of 30%, they said.
District president of Tamil Nadu Association of Cottage and Tiny Enterprises (TACT) J James said, “We have been supplying spare parts to product manufacturers like pump sets and wet grinders, with a marginal profit of just 8%. With an average increase in the price of raw materials by 25%, we were forced to bear huge loss as the product manufacturers do not accept our revised price of spare parts.”