GCCI demands Defence Corridor in Gujarat

Ahmedabad, May 17 (KNN) Giving examples of states like Uttar Pradesh and Tamil Nadu, the Gujarat Chamber of Commerce & Industry (GCCI) has demanded a defence corridor in Gujarat to promote the sector. 

Looking at opportunities in the defence sector with Prime Minister Narendra Modi’s vision of self reliance, the industry body urged Ahmedabad MPs Hasmukh Patel and Dr Kirit Solanki to initiate conversation with Centre about it. 

The chamber has also sought a 30 per cent credit extension for the micro, small and medium enterprise (MSME) sector owing to the  price hike of raw materials. 

They informed the MPs that although the economy is showing a fast recovery the raw material prices for textiles, plastics, chemicals, construction, and pharma industry has increased by an average 35-40 per cent. 

This ultimately increased the working capital requirements of all industries and now they need 35-40 per cent more money for the same amount of materials and they are forced to bring down the production, said Sachin Patel, Secretary, GCCI. 

Patel said that the MPs are going to take up the matter to the Centre as MSMEs are the backbone of our economy and all industries are receiving good orders.  (KNN Bureau)