Economy & Market
Cement production may rise to 349.6 mt: Govt
In the current financial year, India's capacity of cement production is expected to increase to 349.6 million tonne (mt) from 336.10 mt during the last fiscal, Minister of State for Commerce and Industry Jyotiraditya Scindia told the Lok Sabha on September 3.
The projected demand and capacity to be created during 2012-13 are 265.4 million tonne and 349.6 million tonne respectively, Scindia said. According to the report of the working group on cement industry for the 12th Five Year Plan, the installed capacity of cement production during 2011-12 was 336.10 mt, he said.
The Minister said there is no proposal to introduce cement regulatory authority on the line of other sectors to control unfair practice. He added that the complaints relating to market dominance, under utilisation of capacity and artificial scarcity as well as cartelisation are best addressed through competition and entry of new players. The CCI looks into such complaints and takes appropriate action, he added.
In an another reply, he said an American report has mentioned that it would monitor developments concerning Compulsory Licensing of patents in India following the broad interpretations of Indian law in a recent decision by the Controller General of Patents.