According to various sources, the slowing Indian cement industry will improve in the coming years with the government's aggressive infrastructure development programmes.
"The slow growth in cement sector is only a short-term phenomenon with the government's focus on constructing 50 million houses under Housing For All scheme by 2022. Then there are 100 smart cities, AMRUT cities as well as infrastructure development of ports, roads, bridges, freight corridor, etc and also other initiatives. The performance of the cement industry is bound to improve in the years to come," Urban Development Minister Venkaiah Naidu said addressing the annual session of the Cement Manufacturers Association (CMA).
The minister also commented that India is lagging behind in per capita cement consumption at 202 kg against the world average of 543 kg even as it accounts for 7% of the global production.
The Indian cement industry has been doubling its capacity every 10 years and is second largest in the world and the government is willing to solve all its problems, he also said in his comment.
Edited from sources by Joseph Green. Sources: One India, Economic Times, NDTV