MSMEs Oppose Proposed Steel Import Duty Hike Amid Price Volatility
Steel

MSMEs Oppose Proposed Steel Import Duty Hike Amid Price Volatility

Micro, small, and medium enterprises (MSMEs) in Coimbatore are raising concerns over the Union steel ministry’s proposal to increase the import duty on steel products, fearing it could harm their businesses. The Federation of Coimbatore Industrial Associations (FOCIA) has sent an urgent letter to the Union steel and heavy industries minister, urging a reconsideration of the move.

FOCIA highlighted that MSMEs, which purchase steel for manufacturing components supplied to large industries, have struggled with volatile steel prices since the pandemic. After recent price reductions, these smaller industries are finally recovering, securing export orders. However, the proposed import duty hike threatens to disrupt this fragile stability, making it difficult for MSMEs to fulfill existing orders, particularly those from public sector units (PSUs) like the railways.

FOCIA also called for a 'maximum selling price' policy for metals like steel, aluminum, and copper to protect MSMEs from future price volatility. Additionally, they renewed their demand for a price monitoring committee that includes MSME representation to ensure fair pricing.

Micro, small, and medium enterprises (MSMEs) in Coimbatore are raising concerns over the Union steel ministry’s proposal to increase the import duty on steel products, fearing it could harm their businesses. The Federation of Coimbatore Industrial Associations (FOCIA) has sent an urgent letter to the Union steel and heavy industries minister, urging a reconsideration of the move. FOCIA highlighted that MSMEs, which purchase steel for manufacturing components supplied to large industries, have struggled with volatile steel prices since the pandemic. After recent price reductions, these smaller industries are finally recovering, securing export orders. However, the proposed import duty hike threatens to disrupt this fragile stability, making it difficult for MSMEs to fulfill existing orders, particularly those from public sector units (PSUs) like the railways. FOCIA also called for a 'maximum selling price' policy for metals like steel, aluminum, and copper to protect MSMEs from future price volatility. Additionally, they renewed their demand for a price monitoring committee that includes MSME representation to ensure fair pricing.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement