Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

MSME engineering exporters have urged the Indian government to check the rising steel prices in India as alloys and other raw materials are not available at affordable rates to manufacturers. The check is crucial to maintain the export competitiveness of value-added products in the global market, Ludhiana Hand Tools Association President S C Ralhan wrote in a letter to the government.


Ralhan said China is capturing India’s value-added segment exports market mostly due to the upward trend in the commodities and metal prices. India’s finished engineering goods’ exports have declined sharply as a result.


The present situation demands an immediate intervention so that manufacturers get steel at affordable prices, the letter said, adding that it will help maintain the export competitiveness of value-added products.


The prices need to be controlled to prevent factory shutdowns and unemployment. The MSMEs demanded the government to form a raw material bank with a subsidy to help the market participants.


With the pandemic shutting down MSMEs in India, this urgent intervention is needed to prevent further deterioration of the situation, Ralhan said. 

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