Industry Body Express Concerns For MSMEs' Survival Amid Rising Commodity Prices

Concerned with the increasing price of commodities and manufacturing input costs, PHD Chamber of Commerce and Industry says, "The rapid increase in commodity prices is drastically impacting the price-cost margins of MSMEs along with other businesses."

The chamber has suggested that the Reserve Bank of India must balance inflation in the country and maintain currency stability while attaining high growth. This discussion came to light at the peak of this year's Diwali season which is considered to be business-friendly for MSMEs and small businesses.

PHDDCI has appreciated the re-appointment of Shaktikanta Das as RBI Governor and said that under his dynamic leadership, the RBI has undertaken various conventional measures since the onset of pandemic to counter its impact and enhance liquidity in the economy.

It has given five key suggestions to the Governor pertaining to the aim of USD 5 trillion economy.

The chamber has advised on generating demand, focusing on regulations and guidelines on green and sustainable banking along with mitigating the hike in Fuel prices.

As per an official order, Governor Das’ term has been extended by another three years up to December 2024.