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MSME entrepreneurs protests increase in raw material prices

They want rates rolled back to pre-COVID levels

Entrepreneurs of MSMEs in Mysuru staged a demonstration on Monday against the rise in the prices of raw materials.

Scores of MSME owners and entrepreneurs took part in the protest though there was no closure of production. However, senior office-bearers of Mysuru Industries Association, Mysore Chamber of Commerce and Industry and other organisation met the district administration to convey their concerns.

The protest was part of a nation-wide demonstration called by the All India Council of MSMEs. The demonstration was also held in front of the office of the Deputy Commissioner and a memorandum submitted to the officials.

Suresh Kumar Jain of MIA said MSMEs are the backbone of the economy and contribute to the country?s GDP. However, the prices of raw materials was increasing and despite requests there was no correction or attempts to roll back

the prices to the pre-COVID-19 levels.

The All India Council of MSME saidthe units are faced with challenges such as erosion of working capital on account of hike in prices of steel, iron ore, aluminium, copper, plastics, PVC, paper, and chemicals.

The MSME Council sought protection against such escalation and wanted the public sector units to receive fresh quotes from the MSMEs. The stakeholders also wanted the Steel Authority of India to maintain the prices for a period of at least 3 months at a stretch.

The government has always encouraged MSMEs and advocated their cause and if they are crippled, it will discourage entrepreneurs and go against the concept of Atmanirbhar Bharat, said the stakeholders.

The representatives included members from Mysore Chamber of Commerce and Industry, Mysore Industries Association, Hebbal Industrial Estate Manufacturers? Assocciation, Mysore District Small Scale Industries Association, KIADB-

Industrial Area Manufacturers Association, and MSME Council Mysuru.