South Korean integrated steelmaker Posco announced that operations at its Indian steel plant have been disrupted on account of local labour protests and other related issues. This has significantly hampered the supply chain for automakers in the country.
The protests at the plant are being led by local politicians. The employees and goods are being blocked from entering the plant. They demand that the company should ensure preference to locals in employment, raise the pay package for temporary employees and do the needful to make them permanent. The blockades will continue until the company management heeds to their demands.
The protest action has affected supplies from the plant. The automobile production by leading car makers are likely to be seriously affected, if the issue is not resolved at the earliest, said the Society of Indian Automobile Manufacturers (SIAM), in a letter addressed to the state’s chief minister. The blockades have led to shortage of critical auto parts and components, it noted.
Incidentally, Posco is one among the major suppliers of steel products to the country’s automobile industry.
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