CII aware of MSME concerns about rising steel prices; “unfortunate” price volatility, says TV chairman Narendran
CII (Confederation of Indian Industry) industrial chamber chairman TV Narendran said the organization was aware of the growing concerns of micro, small and medium-sized enterprises over rising steel prices in the country. However, steel prices in India were still the cheapest, Narendran said. He is also the Chief Executive Officer (CEO) and General Manager (MD) of Tata Steel.
“They have a problem when they have a fixed price contract … I am not oblivious to their concerns,” PTI reported quoting the president.
Price volatility is the sad reality of the industry, it sometimes hurts producers and sometimes consumers, “we both have to reduce the risk ourselves”, he added and PTI reported.
Ludhiana Hand Tools Association President SC Ralhan recently said that many competing countries, especially China, are supporting manufacturing units by providing steel and other inputs at very reasonable prices to strengthen the competitiveness of their engineering sector in global markets.
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Regarding Covid-19, Narendran suggested that the government take a cautious approach in opening all activities to avoid a possible third wave of the COVID pandemic.
The focus of immediate openness, he said, should be on economic activities, including restarting supply chains, as these are essential for relaunching growth and securing livelihoods. subsistence for the vast majority of the workforce.
“We should prioritize what activities should be allowed, rather than just opening everything up. Avoid avoidable activities. There are a lot of things that don’t need to happen. There are a lot of things that have to happen like economic activities … But social events etc. … Can wait a few months, let them wait a few months. Why increase the risk, ”Narendran told PTI in an interview.
He warned that you have to be “very” vigilant before unlocking so that “we don’t open earlier than necessary and create wave three (coronavirus).”
Several states and Union territories have announced an easing of restrictions due to the drop in the number of coronavirus infections.
The new CII chairman said economic activity declined in May and to some extent in April and everyone had been affected by multiple local blockages, supply chain disruptions and demand.
“The fact that economic activity has declined is obvious, this was also reflected in the GST (goods and services tax) figures … The second wave derailed the economic recovery,” he said. added.
He also advocated for the appointment of a ‘vaccine czar’ for rapid vaccination coverage, stating that there should be a minimum of 71.2 lakh of average daily vaccination doses by December 2021 to cover the entire adult population.
Vaccination is here to stay and the country must be prepared for the long term, he said.
Asked about the FIR against social media giant Twitter and the kind of signal it would send to global investors, Narendran said it’s not just in India, across the world, that countries are looking at how to deal with them. social media companies.
Several countries are looking for ways to regulate social media companies and put in place checks and balances, he added.
IT Minister Ravi Shankar Prasad recently criticized Twitter for willful disregard and non-compliance with the country’s new IT rules, which led the US giant to lose its intermediary status in India and become responsible for users posting any illegal content.