Coimbatore: As many as 19 industrial associations came together in the city on Monday to discuss the issue of rising prices of raw materials, includin.
Micro units welcome State government’s MSME policy
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AAA The micro units here have welcomed the MSME policy announced by the State government on Tuesday as it has increased the capital subsidy ceiling.
“This is a welcome move that will help micro units expand,” said J. James, president of Tamil Nadu Association of Cottage and Tiny Enterprises.
The plan of the government to infuse funds into Tamil Nadu Industrial Investment Corporation (TIIC) is another announcement that will benefit the MSMEs, said C. Sivakumar, president of Coimbatore and Tiruppur Districts Micro and Cottage Entrepreneurs Association.
Raja M.Shanmugham, president of Tiruppur Exporters’ Association, said the Industrial and MSME policies will pave way for the growth of industries in the State. The MSME policy focuses on textiles too. The support to industrial housing project will benefit clusters such as Tiruppur.
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
Sharp increase in raw material prices hit MSME units hard
December 11, 2020
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The MSME units in the foundry and engineering space are in a fix, caught between abnormal increases in the price of raw materials on the one hand and order enquiries coupled with labour shortage on the other.
“The last three months have been terrible. The situation is worsening by the day; we are unable to schedule production,” say unit owners, urging immediate government intervention to bail them out of their present imbroglio.
“Both the Centre and State should step in without further delay. If the situation persists for another month or so, we will have to shut operations,” said K V Karthik, Managing Director, Deccan Industries and president, the Southern India Engineering Manufacturers’ Association (SIEMA).
Pumpset manufacturers fear slowdown
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The pumpset manufacturers fear that farmers, who are dependent on pumps for irrigation, may delay their purchases because of the increase in prices and this can lead to a slowdown in the pumpset industry.
The Indian Pump Manufacturers’ Association, Southern India Engineering Manufacturers’ Association, and Rajkot Engineering Association, representing 99 % of the pump manufacturers of the country, discussed at a meeting held on Wednesday the issues of steep hike in raw material prices and its impact.
According to a press release from the Associations, prices of copper, steel rods, PVC resin, and craft paper, have all increased more than 10 %.