MSMEs protest against rising prices of raw materials

MSMEs protest against rising prices of raw materials

December 21, 2021

Submit memorandum to Additional DC

Mysore/Mysuru: Entrepreneurs of Micro, Small and Medium Enterprises (MSMEs) in Mysuru staged a demonstration on Monday in protest against rising prices of raw materials. The office-bearers of several industrial organisations met Additional Deputy Commissioner Dr. B.S. Manjunathaswamy to convey their concerns and submitted a memorandum. The demonstration was part of a nationwide protest called by All India Council of MSMEs.

Suresh Kumar Jain of Mysore Industries Association (MIA) said MSMEs are the backbone of the economy and contribute significantly to country’s GDP.

Pointing out that despite requests there are no efforts to roll back prices of raw materials to pre-COVID levels, Jain said that the units are faced with the challenge of working capital erosion on account of increasing prices of steel, iron ore, aluminium, copper, plastics, PVC, paper and chemicals.

Seeking protection against price escalation, the entrepreneurs wanted the Public Sector Units to receive fresh quotes from MSMEs. They also wanted the Steel Authority of India to maintain price stability for at least 3 months at a stretch.

Noting that any crippling of MSMEs will discourage entrepreneurs, they argued that rising prices will blunt the success of the concept of Atmanirbhar Bharat.

They wanted the Government to derive a formula for checking price escalation, quota for MSMEs at concessional price and permission for import based on cost and quality.

Mysore Chamber of Commerce and Industry President A.S. Satish, office-bearers of MIA, Hebbal Industrial Estate Manufacturers Association, Mysore District Small Scale Industries Association, KIADB-Industrial Area Manufacturers Association, Mysuru District SC-ST Industrialists Association, MSME Council, Mysuru Small Scale Industrial Manufacturers Association, Metagalli Industrial Estate Manufacturers Association, Nanjangud Industries Association, KATKHI Industrial Association and others were present.


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