Industries protest against rise in price of raw materials

A large number of representatives of Industrial Associations on Saturday staged a massive rally to protest against the Central Governments failure to rein in prices of raw materials.

Coimbatore, Apr 12 : A large number of representatives of Industrial Associations on Saturday staged a massive rally to protest against the Central Government's failure to rein in prices of raw materials.

Over 5000 representatives from 18 Associations, including small, medium and large industries situated in and around Coimbatore took to streets voicing their protest against the soaring prices of raw materials.

"We want the Government to step in and control the price rise" said Muthuswamy, President, Coimbatore District Small Industrial Association.

Industrialists said there has been a huge rise in the prices of all-important raw materials like pig iron, coke, copper, brass, plastic and aluminum over the past few months..

"We continue to export huge quantity of iron ore from India and it has increased the cost of local steel industries," said Bala Sundaram, President, Indian Chamber of Commerce and Industry.

The data released by the Ministry of Industry for the week ending March 29, shows that the inflation has touched a new high of 7.41 per cent since November 8, 2004.

ANI