Coimbatore, Oct 26 (KNN) Keeping in view the problems faced by the micro, small and medium enterprises (MSMEs) from the pump industry due to increased raw material cost, the Southern India Engineering Manufacturers Association (SIEMA) has asked its members revise the price of agricultural as well as domestic pump sets after Diwali.

SIEMA said the decision has been taken due to abnormal increase in the price of major raw materials such as steel and coke, shortage of skilled labour and higher wages, higher interest rates by banks, and rising freight cost due to frequent increase in petrol and diesel prices.

After taking up the matter with the Centre, the industry has sought government’s intervention to solve the problems faced by the MSME pump industries.

The pump manufacturers in Tamil Nadu alone employ around 50,000 people directly and over 2 lakh people indirectly. (KNN Bureau)