- Deccan Herald
MSMEs protest against rising input costs
Lakhs of micro, small and medium enterprises (MSME) across India, including those in Bengaluru’s Peenya industrial complex, went on a one-day strike on Monday to protest the steep rise in the prices of steel and raw materials including aluminum, copper and engineering plastics.
The strike was organized by the All India Council of Association of MSMEs (AICA), which represents 170 MSME associations. The MSMEs have been facing one crisis after another since 2016 – demonetization, the introduction of GST, the economic slowdown 2019 and the Covid-19 lockdown in the first half of 2020.
Aluminum alloy prices have risen 154.7%, copper prices have jumped 119.4% and steel prices have climbed 82.2% in the period from April 2020 until October 2021, while those of Kraft paper (packing grade) and engineering plastic have doubled, data from Bengaluru-based Peenya Industries Association showed. PIA represents 6,500 MSMEs.