Indian producers agree to "look into" price cut issue

Indian producers agree to "look into" price cut issue
Published: 07 March 2007

Indian cement making companies have agreed to "look into" the issue of rolling back price hikes announced after last week’s federal budget raised excise duty on the product, the Business Standard reported, quoting Manoj Gaur, executive chairman of Jaiprakash Associates Ltd.
 
"The (Finance) minister asked us to explore the possibility of moderating prices and we have offered to look into it," Gaur told the paper. 
 
Gaur, who is also the president of the Cement Manufacturers’ Association of India, spoke to Business Standard after meeting Finance Minister P. Chidambaram.