The steel ministry's "ill-conceived" proposal will not just have an impact in terms of cost of inputs for MSMEs but also make their products "uncompetitive against imports," secretary general of the Federation of Indian Micro and Small & Medium Enterprises Anil Bhardwaj said.
The safeguard duty can also lead to an increase in project costs in sectors such as housing, thereby triggering a slowdown. This slowdown will again indirectly hurt MSMEs. Barring cement and steel, all inputs for construction come from small and medium enterprises, Bhardwaj said.
This story is from the December 04, 2024 edition of Financial Express Chennai.
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This story is from the December 04, 2024 edition of Financial Express Chennai.
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