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01 Mar 2024, Edition - 3153, Friday

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Industry associations petition for curb in price of raw material

Covai Post Network


CODISSIA, ICCIC, CII, IIF, SIEMA, COINDIA, TAPMAA, LUB, COTMA, KOPMA, TACT, COCIA, COGIMWA, TAGMA, GITA, MSIEA, EEIEEA, COFIOA, COSMA, COSIEMA jointly had a meeting with the Government Bodies viz. DIC, SIDCO, NSIC, SAIL and VIZAG Steels at the CODISSIA Board Room on December 17 to discuss the steps to be taken for availability of raw materials in the prevailing moment of abnormal increase of raw material prices. About 40 members attended the meeting.

In the meeting, it was discussed and decided that an appointment from Hon’ble Minister for Steel, Government of India, New Delhi, for a meeting and represent the matter before him; to form a consortium of Associations for purchasing of raw materials directly from the manufacturers viz. SAIL, VIZAG, JINDAL, TATA, ESSAR, NSIC, etc. as a long-term benefit for MSME industries; to arrange for distribution of raw materials through Hon’ble Minister for MSMEs, Industries Commissioner and Director of Industries and Commerce, Government of Tamil Nadu, Chennai, District Industries Centre, Coimbatore through SIDCO and NSIC, Coimbatore, on a priority basis; to avail financial support of NSIC by issuing Bank Guarantee.

A few requests have also been promulgated – Reduce the anti-dumping / import duty and allow imports of steel and other allied materials to India for smooth supply, which is a primary source of manufacturing activity; fix the MRP price as the selling rate for raw materials; immediate ban on export of iron ore and raw materials to ease domestic supply and check price rise; depending upon the raw material availability in the local market, the value addition for the products will be more and will yield foreign exchange; reintroduce the system of allocation of raw materials to MSMEs at subsidised price as was done earlier, via SAIL, VIZAG, NSIC, SIDCO and other Nodal State Government Distribution Systems; allow NSIC to accept 25% deposit in Lieu of Bank guarantee and extend credit up to 90 days for Copper and other raw material; request SAIL to reopen their SAIL yard in Coimbatore immediately to tide over the crisis of shortage of raw materials and also call upon the Central and State Governments to intervene on a war footing, to save the MSME sector by allowing import of metals and minerals and ease out the shortage.

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