Economy & Market
Cement production may rise to 349.6 mt in FY13
During this financial year, the capacity of cement production in the country is expected to increase to 349.6 million tonne (mt) from 336.10 mt during the last fiscal, the Parliament was informed recently.
Union Minister of State for Commerce and Industry Jyotiraditya Scindia said the projected demand and capacity to be created during 2012 and 2013 are 265.4 million tonne and 349.6 million tonne, respectively. Scindia said in the the Lok Sabha that 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.
The Minister said there is no proposal to introduce cement regulatory authority on the line of other sectors to control unfair practice. 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.