EEPC India approaches BoT on concerns over high steel prices

EEPC India approaches BoT on concerns over high steel prices
16/02/2019 , by , in ALLIED

EEPC India has placed before the Board of Trade (BoT), under the commerce ministry its concerns over high steel prices making the country’s engineering exports un-competitive in the international market with the result that shipments from the job-oriented sector are on a downslide.

Making a presentation before the BoT, chaired by the commerce & industry minister, Suresh Prabhu, the EEPC India Chairman Mr Ravi Sehgal said, ” The single biggest reason we are not able to export more is the higher domestic steel price making our products uncompetitive in global markets. It is ironical that the second largest steel maker in the world at 106 million tonnes finds it difficult to provide just 1%, i.e., One million tonnes to the MSME sector at international prices”.

The apex body of the engineering exporters has urged Mr Prabhu to ensure creation of a mechanism wherein at least the MSMEs get steel at international prices. “If not, the government should immediately appoint steel regulator to tackle this situation” EEPC said

 

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