Govt urges steel makers to provide relief to MSME sector

13 Dec 2021 CW Team

The government has urged steel producers to investigate the possibility of providing relief to the MSME sector by reviewing the high prices of benchmark hot-rolled coil.

On Thursday, Minister of Commerce and Industry Piyush Goyal met with steel industry stakeholders and emphasised the importance of a more convenient and cost-effective supply of steel to small businesses that use steel as an input for manufacturing components and other engineering products.

Almost all of India's major steel producers have increased the price of the benchmark hot-rolled coil by up to Rs 3,500 per tonne. The steel industry claims that fuel costs have increased by more than 70% compared to last year and that a drop in iron ore prices is insufficient to offset the increase.

The steel industry defended the price hike by claiming that global coking coal prices have reached all-time highs, with Australian premium coking coal prices jumping to around $430 per tonne on freight-on-board levels in November, compared to $110-120 per tonne in April 2021.

The recent coal shortage caused by an unexpected surge in demand didn't help matters, as state-owned Coal India Ltd was forced to prioritise coal supply for the power sector.

However, after Goyal urged industry players to consider assisting the MSME sector, steel industry stakeholders expressed a desire to find cost-effective solutions to their problems, particularly in light of the Covid-19 pandemic.

Faced with rising input costs, the All India Council of Associations (AICA) of MSMEs, which represents 170 MSME sector associations, petitioned the government to allow the import of all steel materials based on cost and quality criteria.

In June of this year, as the country began to emerge from the grips of the second pandemic wave, AICA urged the government to prohibit the export of iron ore and steel products.

Image Source

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..