Government should Control Steel Prices to save MSME industry: FICO
The Federation of Industrial & Commercial Organization (FICO), Ludhiana, has urged Union Steel Minister H. D. Kumaraswamy to ensure uniformity in commodity prices and intervene to control rising steel rates.
City Air News
Apr 6, 2026 10:08
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Ludhiana, April 6, 2026: The Federation of Industrial & Commercial Organization (FICO), Ludhiana, has urged Union Steel Minister H. D. Kumaraswamy to ensure uniformity in commodity prices and intervene to control rising steel rates.
FICO President Gurmeet Singh Kular said the abnormal surge in steel and raw material prices has pushed downstream manufacturers—especially MSMEs—towards the brink of closure. He noted that MSMEs are unable to absorb the rising input costs as buyers are unwilling to accept corresponding increases in finished product prices. He also suggested launching an emergency funding scheme for MSME manufacturers similar to the support provided during the Covid period.
FICO General Secretary Manjinder Singh Sachdeva added that steel prices have increased by at least ₹10 per kg. Prices of non-ferrous metals such as nickel, titanium, chromium, aluminium, copper and zinc are also rising unchecked. He emphasized the need for a regulatory mechanism to rationalise prices and support Indian MSME manufacturers.
