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Rising steel prices concern members of CICU

Members of the CICU met the executive members of the chamber dealing with the steel industry to discuss the issue of rising steel prices. Members said they were in doldrums due to increase in prices after the GST implementation. 

Upkar Singh Ahuja, president, CICU, apprised the members of the problems being faced by the micro and small industry, manufacturing products by using steel as raw material. He said daily increase in the prices of steel was adversely hitting the MSME units manufacturing auto parts, bicycle and its parts, sewing machines, electrical machinery, textile machinery, fasteners, hand tools, etc.

Members Rajnish Ahuja and RC Ralhan said a delegation should meet the Finance Minister, Steel Minister and Secretary Steels and ask them to intervene in the matter. They said the Centre is encouraging the exports of prime steel which is affecting Micro, Small and medium Enterprises.
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