MSMEs in State observe bandh in protest against rising prices
The Hindu
‘70-80% increase in cost of raw materials is impacting operations’
Over 10,000 micro, small and medium enterprises (MSMEs) belonging to Peenya Industrial Estate, and several thousands of such units from the city and across the State observed a bandh on Monday to protest against the increase in prices of raw materials such as metals, chemicals, polymers, plastics, rubber and other items.
Bommasandra Industrial Estate, Machohalli Industrial Estate, Doddanna Industrial Estate, Thigalarapalya Industrial Estate, Ravendra Industrial Estate, Kachohalli Industrial Estate, Prakash Nagar Industrial Estate, Bengaluru Centre Small Scale Association, Bengaluru North Small Scale Industries Association, Rajajinagar Industries Association, Jigani Industrial Estate, etc participated in the protest by closing their factories and units.
According to trade body estimates, Monday’s trade loss of MSMEs under Peenya Industrial Area alone would be over ₹500 crore, while it would be a very significant sum for the whole State as some 132 industry associations affiliated to Kassia, five industrial associations from Belagavi Industrial Estate, Banglore Chamber of Commerce and Industries, Mysore Industrial Estate and several other industry associations across the State participated in the protest.