According to local reports, the Builders Association of India (BAI) has urged the government to regulate increasing cement prices in the country. The BAI believes that setting up a regulatory authority and opening the market to allow imports from Asia would help to stabilise the price of cement.
Looking at southern India, BAI officials noted that the increase in the price of cement, together with a hike in the cost of materials such as gravel and steel, has resulted in the average cost of construction in Chennai rising by approximately Rs.300/ft2. R. Radhakrishnan, former National President of the BAI, told local press that there was no regulation of prices in the country, particularly in the south, despite the Competition Commission of India coming down on cement producers in 2012.
Unless the government intervene, the ever-increasing price of construction materials is forecast to have a significant impact on both the industry and the overall economy, said the BAI.
Edited from various sources by Rosalie Starling
Read the article online at: https://www.worldcement.com/asia-pacific-rim/19062014/bai_calls_for_regulation_of_cement_prices_in_india_377/