Chinese imports threaten screw and bolt industry
A double whammy has hit the industrial cluster of Amritsar. Besides stiff competition from the Chinese imports, the local manufacturers of screw, nut- bolt, printing and packaging machineries are now hit by a spike in iron prices that has also slowed construction activities in the region.
The demand for domestically manufactured items has dwindled. Chinese screws have flooded the Indian market, edging out the city’s leadership position as the screw manufacturing hub of the country.
To manufacture quality product, the industry needs huge investments. China has upgraded its technology by installing sophisticated heat treatment plant costing over Rs 4 crore with a capacity to handle 300 tonne iron ore per month. In contrast, the local plant is worth Rs 3-4 lakh with a capacity of 40 tonne.The local industry has not undertaken any technical upgrade in the absence of government support.