India industry on steady growth path, says industry body

India industry on steady growth path, says industry body
Published: 11 May 2009

The economic slowdown and slump in the housing sector notwithstanding, the cement sector continues to be steady with another 50Mt capacity to be added this year, industry body Cement Manufacturers’ Association (CMA) has said.

The demand for cement has not come down. However, it remains to be seen what infrastructure policies are pursued after a new government takes over, CMA President HM Bangur said on the sidelines of Green Cementech 2009.

If the country’s GDP grows at seven per cent, the cement industry is expected to expand by nine per cent to 10 per cent, he said.

About the realty sector, Bangur said, "When we say housing, we think about rban housing and real estate developers as the face of the industry. But they (developers) constitute only five per cent of the cement demand.

In rural and semi-urban areas, where land is comparatively cheaper, construction activity has picked up." Although the Government had taken up new initiatives on infrastructure, they are still inadequate, said Mr Bangur, who is also chairman and managing director of Shree Cements.