Coimbatore: About 400 small and tiny foundries, affiliated to the Coimbatore Tiny and Small Foundry Owners Association (COSMAFAN), will go on an indefinite strike from December 16 seeking steps to bring down “high prices” of raw materials which they said affected the entire industry.
There would be a production loss of Rs 30 crore daily, affecting about two lakh workers due to this strike, COSMAFAN President Shiva Shanmughakumar told reporters here on Monday.
The prices of raw material had increased by 30 per cent compared to the level before the COVID-19 lockdown, he said.
Accusing the manufacturers of being behind the “artificial price rise”, he requested the government to intervene and bring down the prices for the survival of the industry.
Wet grinder manufacturers, other engineering and motor and pump manufacturers, automobiles will also severely affected due to the production stoppage of foundries, he added. Coimbatore a major foundry hub in the country.