Coimbatore, Dec 14 (PTI) 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.

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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.

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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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)