Pumpset manufacturers to hike prices as Coimbatore MSMEs are hit by high raw material costs

Pumpset manufacturers in Coimbatore will hike the prices of pumpsets, including those used in agriculture, by 7.5 % to 10 % next month, apart from a 10 % jump this month.

According to Mithun Ramdas, president of the Southern India Engineering Manufacturers’ Association, the last six months have seen “unprecedented” spiralling of raw material prices. The cost of copper is up 50 % from ₹800-₹850 a kg to ₹1,200 a kg now. The cost of aluminium, cast iron, steel, cables, and polymers are all up resulting in 20 % jump in production cost.