India’s Commerce & Industry Minister Kamal Nath Friday asked cement companies to come up with a proposal to reduce prices by Monday. "Government cannot and will not remain a silent spectator to this (rising cement prices)," Nath said at a meeting with cement manufacturers.
According to a government study, average cement prices have risen 25% in the last four months. The retail price of cement has risen 62% since December to INR210 for a 50-kilogram bag due to burgeoning demand from the infrastructure sector.
"It should not happen that monsoons come and cement prices automatically come down (due to lower demand during the rainy season)," said Nath.