TANSTIA stages stir against price hike of raw materials

Chennai, Apr 7 (UNI) The Tamil Nadu Small and Tiny Industries Association (TANSTIA) today staged a demonstration here to draw the Centre's attention to the increase in prices of steel, aluminium and plastics and demanded its roll back to save the small scale and micro industries.

More than 1,500 members of the Association participated in the agitation, led by TANSTIA President A Shanmugavelayuthan.

An Association release here said 75 per cent of the SSI and micro industries were engineering industries, engaged in production using raw materials like iron and steel, aluminium and plastics.

They contribute to about 40 lakh employment in the State.

Due to unprecendented increase in the price of raw materials like steel, aluminium and plastic during the last three months, the micro and SSI units were facing a situation wherein their units had to be closed if the Centre did not take remedial measures.

They were also demanding reduction of excise duty on raw materials from 14 per cent to eight per cent and to increase the excise duty exemption limit from Rs 1.5 crore to Rs three crore.

UNI GV GD NY PM1353