The Indian cement industry has hit its lowest growth in over a decade, as the Cement Manufacturers’ Association releases statistics revealing a 4.82% growth in sales in 2010-11, compared with 10.5% in 2009-10.
According to a report by Realty Plus, the contraction in growth was due to a high base effect coupled up with an extended monsoon, and that fact that no major infrastructure projects have been initiated since completion of the Commonwealth Games. Delays in commissioning new capacity, regional political issues in the south, and strikes by transporters in the north also impacted sales.
