A slump in construction industry has impacted business activity of firms selling tiles, plumbing equipment, hardware, electrical goods, glass material, wooden furniture and others in Vizianagaram.
Almost all the shops witnessed a significant drop in sales, as a majority of the builders have stopped construction activity owing to the steep hike in prices of steel, cement and other material.
Steel which was available at ₹55,000 per tonne six months ago is now priced at around ₹85,000. A cement bag which was priced at ₹280 is now being sold at ₹430. Hike in fuel prices have added to the increase in the prices of all materials. The labourers are also reportedly insisting on extra wages as their expenses and transport charges have gone up.
