There has been a call from a few sections of the real estate industry for the Centre to set up a cement regulatory authority.
Avinash M Patel, National President, Builders' Association of India, has said that the Government of India should constitute a cement regulatory authority to 'break the cartel' in the cement industry. He said, 'At present, the cost of cement was around Rs 400 a bag, while its original cost, including profit, could only be around Rs 150 a bag. 'One of the major reasons for the suffering of the construction industry was the high cost of cement. Prices have been jacked up by at least three times. With cement being a major raw material for the industry, high price of cement has affected the growth of the industry,' he said.