Pump manufacturers in Coimbatore hike prices by 15 per cent

The price hike is due to the rise of raw material and spare parts prices which government was unable to control. Given that the demand is high in the industry for material supplies the industry is experiencing a tough time.
Pump manufacturers in Coimbatore hike prices by 15 per cent

Pump manufacturers in Coimbatore have increased the price of all models by 15 per cent from the new year due to rising cost of raw materials.

Prices of raw materials have increased by 10 to 40 per cent in the last two months along with the price of spare parts, informed K Maniraj, President, Kovai Power Driven Pumps and Spares Manufacturers Association (KOPMA). “Despite several requests, the central and the state government failed to take steps to control the price hike. So, we decided to increase the prices of all varieties such as household, industrial and agriculture by 15 per cent from the new year.”

The members of the Railway Suppliers Association (RASA) submitted a petition to the railway, requesting to settle bill payments at the earliest. “Even though the railway board has issued two circulars instructing officials to release the MSME bill payments without delay, the bills are much delayed. As railway delays the bill payment, suppliers are unable to complete their orders on time. Store officials are levying penalty for the delays. While MSMEs are on the verge of collapse due to Covid-19 pandemic and rising price of raw materials, it increases our burden further,” stated S Surulivel, President, RASA.

Considering above issue, it is pertinent to note here that various Ministries governing sector PSUs have promoted faster clearing of SME payments. MSME minister, Nitin Gadkari has also informed recently that the government is interested to bring about a law to clear SME payments within 45 days. Such an effort will help SMEs to obtain rolling capital and can set a platform for upgradation.

The Coimbatore SIDCO Industrial Estate Manufacturers Welfare Association (COSIEMA), in a statement, said it had requested the central government to control the export and import of the raw materials by imposing suitable customs duty and to form a committee comprising representatives from industrial associations to monitor rise in raw material prices.

Indradev Babu, President, Indian Machine Tool Manufacturers Association (IMTMA) speaking with Industrial Products Finder (IPF) during IPF Awards stated, “Materials like steel, copper, aluminium has seen global price hike. It is also believed that China is importing most of the material which is the reason behind the price hike. Raw material suppliers in India have found a better market for exports during the past 7 months.” 

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