Apr 17, 2021
The Growth of Cement Industry in India
India is the second-largest producer of cement around the world says independent research. The cement industries of India became a significant part of its economy in 1982 and granted employment to more than a million people, directly or indirectly. No wonder, the Indian cement industry has attracted the huge investors, both from Indian as well as foreign experts.
India has a lot of potential for developing the infrastructure and construction sector and the cement sector is expected to largely benefit from it. Due to some of the recent major initiatives such as the development of smart cities, it is expected to provide a major boost to the sector.
Recently, several foreign players have invested in the country and expected to be the contributor to major developments in the country aided by suitable government foreign initiatives. The growth of this sector is predicated because of the ready availability of the raw materials for making cement such as limestone and coal (Furnace).
Production Capacity
Presently, the biggest demand drivers of cement are these housing and real estate sectors, accounting for about sixty-five percent of the total consumption in India. Some of the other leading consumers of cement include public infrastructure at twenty percent and industrial development at fifteen percent.
India’s overall cement production capacity was nearly four hundred and sixty million tonnes as of 2017–18. Its consumption is expected to grow by five percent in the financial year of 2019 supported by a pick-up in the housing segment and higher infrastructure spending. Currently, the industry is planning to produce three hundred megatons in order to meet its domestic demand and five megatons for exports requirement.
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