Coimbatore: A delegation of industrialists from Coimbatore met Union MSMEs Minister Narayan Tatu Rane in Delhi to fix a 10 per cent higher price for export of raw materials than their domestic price to overcome shortage.
Heads of various associations that are part of Joint Council of Associations of Coimbatore claimed that steel exports are made at much cheaper rates as compared to the domestic prices.
“Countries importing Indian steel at cheaper prices churn out end products at competitive cost causing a huge setback in exports to our MSMEs. This tends to have a negative impact to MSMEs and in the long run to the nation’s foreign exchange revenue,” said MV Ramesh Babu, president of Codissia. Therefore, the industrialists insisted that a minimum export price should be fixed at 10 per cent higher than the domestic price.
Reopening of SAIL yard in Coimbatore, banning export of raw materials and allowing imports at nil duty were other measures suggested. A price monitoring panel was also sought by the sector..
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