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‘Sky skyrocketing commodity prices badly affecting the price margins of small scale industries’

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‘Sky skyrocketing commodity prices badly affecting the price margins of small scale industries’

New Delhi, Nov 3 (PTI) Industry body PHD Chamber of Commerce and Industry (PHDCCI) on Wednesday said the skyrocketing commodity prices will badly affect the cost margins of companies, especially micro, small and medium enterprises (MSMEs). have been. The industry body also said that the Reserve Bank of India has an important role to play in balancing inflation and maintaining currency stability.

PHDCCI made five suggestions while charting out the areas that should be addressed during the second term of RBI Governor Shaktikanta Das. This comment of the industry body is part of those suggestions.

PHDCCI lauded the reappointment of Das as the Governor of the central bank, saying, “Under his illustrious leadership, the Reserve Bank has taken several conventional measures since the onset of the pandemic to mitigate its impact and increase liquidity in the economy. “

She said that Das should focus on five key suggestions during his second term.

These include achieving and maintaining a path of high economic growth to become a $5,000 billion economy.

PHDCCI suggested, “The skyrocketing commodity prices are seriously affecting the price cost margins of companies especially MSMEs. Hence, at this juncture, the country should maintain currency stability while balancing inflation and achieving high growth. The role of the Reserve Bank becomes important to keep

The industry body also said that Das should focus on maintaining adequate liquidity in the system while balancing inflationary pressures.

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