MSMEs Oppose Proposed Steel Import Duty Hike Amid Price Volatility
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.