Cement Industry Set to Thrive with Robust Infrastructure Push in Union Budget

The recent budget announcement by Finance Minister Nirmala Sitharaman emphasizes significant investment in infrastructure and housing, promising to drive demand for construction materials and support the growth of the cement industry. The Cement Manufacturers’ Association praises the budget's focus on strategic investments and capacity expansion in the sector.

The latest budget unveiled by Finance Minister Nirmala Sitharaman has been met with optimism by cement industry leaders, who see a promising future for the sector. The emphasis on large-scale housing and infrastructure projects is expected to enhance demand for construction materials and allow for capacity expansion. Cement manufacturers, represented by the Cement Manufacturers' Association (CMA), have welcomed the budget's vision for economic growth, highlighting its focus on rural and urban development, infrastructure investment, and employment-led growth.

CMA President Neeraj Akhoury underscored the opportunities presented by increased infrastructure investments across states. He emphasized the industry's commitment to partnering in national progress. Despite challenges, he expressed confidence that these measures will enable the cement industry to achieve a CAGR growth rate of over 6% in installed capacity this financial year. Parth Jindal, CMA Vice President, pointed to specific allocations for innovation and infrastructure to bolster growth in core sectors, including cement.

JK Lakshmi Cement's Arun Shukla noted the positive impact of completing 50,000 dwelling units in stressed housing projects, aiding middle-class families toward homeownership. He also voiced optimism about the Rs 10 lakh crore asset monetization plan, set to infuse capital into new projects and stimulate innovation. The budget's focus on expanding infrastructure through PPP models and improving trade and warehousing facilities is expected to sustain growth in cement demand, driving industry advancement.

(With inputs from agencies.)