QCOs Threatens Existence of MSMEs

While QCOs in some sectors and products have been removed, steel remains one of the sectors still reeling under QCO pressure, according to Shaunak Rungta, Central Executive Committee member of the Federation of Indian MSMEs. Instead of boosting manufacturing, the measures have strengthened the position of large domestic players while making it difficult for MSMEs to survive. According to him, large companies that dominate sectors such as viscose staple fibre and polyester staple fibre pushed for QCO implementation, forcing smaller manufacturers to procure raw materials domestically at significantly higher prices. Citing industry reports, he said prices of fibres increased by…