Coimbatore MSMEs Seek Govt Intervention To Curb Steel, Copper Prices

Chennai, Feb 17 (KNN) The Coimbatore MSME Association has called on the Union government to regulate prices of key inputs such as steel, copper and aluminium to protect micro, small and medium enterprises (MSMEs) from escalating cost pressures, on Monday.

At a meeting held in Avarampalayam in Coimbatore, the association reviewed the current industrial scenario and adopted two key resolutions addressing raw material pricing and trade policy concerns, reported The Times Of India.

Citing sharp and frequent increases in input costs, the association said MSME units are under severe strain as prices of steel, copper and aluminium continue to rise. It appealed to the Centre to introduce measures to stabilise prices and ensure a uniform pricing mechanism for at least one year.

The association also proposed the creation of a ‘raw material bank’ to provide timely and affordable access to essential inputs for MSME units.

Highlighting the sector’s economic significance, the association noted that MSMEs contribute around 31 percent to India’s GDP, account for 48 percent of exports and employ nearly 18 crore people. 

Coimbatore, a major MSME hub, is home to industries manufacturing pump-sets, motors, electrical machinery, compressors and automobile components, all of which depend heavily on steel, copper and aluminium.

In a separate resolution, the association called for reciprocal benefits under the proposed US–India trade agreement. It stated that if India considers reducing import duties on American goods to zero, similar zero-duty access should be secured for Indian exports to the United States.

The meeting also flagged an acute shortage of skilled workers in micro-scale units in the region. Association president T. Mani said there is an urgent need to establish dedicated skill training institutions to develop industry-ready manpower for MSME units in Coimbatore.

(KNN Bureau)