Economy & Market
Cement industry should grow by 20-25 pc over 30 yrs
According to Amitabh Kant, Secretary, Department of Industrial Policy and Promotion (DIPP), cement industry has to grow 20-25 per cent annually over the next three decades to meet the requirement of a rapidly growing Indian economy. At the inauguration of the 53rd Annual Session of Cement Manufacturers Association (CMA), he said that for a sustained high growth rates for the Indian economy, manufacturing has to grow by 13-14 per cent and cement has to be a major driver of India´s growth sector.
Responding to the flagging of some issues by CMA, Kant said that he would convene a meeting with the officers of his Ministry, Ministry of Mines, Ministry of Environment and Department of Revenue to sort out the issues. Referring to the announcement made in the Budget 2015-16, he said that huge emphasis has been laid on infrastructure and this will provide impetus to the cement industry.
Earlier, OP Puranmalka, President, CMA, in his welcome address said that cement industry has grown at the rate of about 8 per cent in the first three quarters of the current financial year. However, to meet the level of cement demand arising out of expected increase in the growth rates, Government has to ensure adequate availability of land and consistent availability of major inputs like limestone, coal and adequate infrastructure like rail availability.