The government today warned that it will crack down on the cement industry if it detects any cartelisation in the sector.
Speaking at the sidelines of the India Economic summit here today, Minister of State for Industry Ashwani Kumar said: "Cement companies should know that the government is not helpless, and it will intervene if there are any indications that the companies are resorting to cartelisation."
Kumar also added that the government would take all possible measures to ensure that cement prices are not ’artificially’ hiked.
He said the government was holding meetings with cement companies and is taking stock of the demand-supply situation in the market. "We are asking companies to increase production. We have also directed MMTC to import cement to ensure enough availability of the building material in the domestic market."
Kumar said while the cement companies are eligible to make profits, it should not be at the cost of consumers. "Cement prices are a little high but they are a function of demand and supply. We are trying to ensure that there is no cartelisaton," he said.