Rapid development and urbanisation have propelled India's economic progress on an upward trajectory. The Indian government has made significant investments in large scale infrastructure projects in recent times, aiming to boost connectivity and create new avenues for revenue generation and employment opportunities.
With growing industrialisation and a burgeoning population, there is an increasing need to build robust infrastructure across the country to meet demands and cater to the needs of the people. This infrastructure push has resulted in a domino effect across various industries, with the cement industry being particularly prominent among them.
India, the second largest cement manufacturer globally, is experiencing a surge in cement demand, leading cement producers to ramp up their manufacturing capacity. For example, in 2022, India constructed 12,000 kilometres of highways, and the demand for housing continues to rise. The housing sector alone accounts for 60-65 per cent of India's cement consumption, and as a result of these factors, predictions indicate that cement production is expected to grow by approximately 6-8 per cent in 2023-24. The infrastructure push is expected to catapult cement consumption and demand in the country. However, it is crucial to note that this growth also presents the challenge of ensuring sustainability in the long term with minimal environmental impact.
This story is from the May 2023 edition of AgroSpectrum.
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This story is from the May 2023 edition of AgroSpectrum.
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