MSME engineering exporters seek PM Modi’s intervention
Ludhiana Hand Tools Association President S C Ralhan said that many of the competing countries, provide support to manufacturing units by providing steel at much reasonable prices.
New Delhi: Engineering exporters in the MSME segment have sought Prime Minister Narendra Modi’s intervention on rising steel prices, stating that the industry needs the alloy and other inputs at affordable rates so that export competitiveness of value-added products is maintained in the global markets.
In a letter to the prime minister, Ludhiana Hand Tools Association President S C Ralhan said that many of the competing countries, particularly China, provide support to manufacturing units by providing steel and other inputs at much reasonable prices to boost competitiveness of their engineering sector in the global markets.
He said that India is gradually losing out its markets to China in the value-added segment of exports and the recent growth visible in exports is largely on account of hike in the prices of metal and commodities. A sharp decline is seen in the export trends of finished engineering goods, he said.
“In the given situation, the MSME (micro, small and medium enterprises) industry needs to be provided steel at reasonable prices so that export competitiveness of value-added products is maintained,” Ralhan said in his letter.
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