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“Media reports indicate that large steel rolling mills are preferring to export steel. They have booked orders for Europe, Middle East etc, which is one reason for shortage of steel in India. Thus companies are increasing prices at their will,” said Pankaj Sharma, general secretary of CICU. “Cost of steel prices is adding to cost of MSMEs and hence they will run into losses. MSMEs will not be able to book orders considering current raw material prices and a number of MSMEs will be forced to close due to this increase prices of basic raw material,” he added. CICU said that export of steel should be banned for six months and there be no import duty on steel. Maximum incentive should be given under the stimulus package announced by Finance Minister Nirmala Sitharaman to MSME, cartelisation should be controlled and betting/speculation in steel must be curbed by the government, added Sharma. ....