Rising steel prices hit Punjab units

摘要

Rising prices of raw material, cheap imports from China coupled with labour shortage have hit the hand tools, steel, auto parts and nut bolts industry in Punjab. Worst hit are nearly 200 hand tool industrial units in the state where sales have dipped by 30 % while cost of production has increased on rising steel prices and non-availability of power. Most of these hand tool units are en gaged in the manufacture of spanners, pliers, screw drivers, ranches and tool kits. In 2006-07, sales turnover of these units was 372 crore rupees, which dipped to just 51.43 crore rupees in 2009-10.