Earlier this year India’s Government announced a number of proposals in the Union Budget 2018-19 that are directly linked with the sector’s growth profile. India is expected to spend INR 645 billion in FY18-19 on the ‘Housing for All by 2022’ programmes and close to INR 6 trillion on infrastructure. The Government also plans to extend its rural road network scheme connecting all eligible habitations under Phase III of Prime Minister Gram Sadak Yojana (Prime Minister’s Rural Road Scheme), set up new government medical colleges and hospitals, renovate about 600 railway stations and suburban railway infrastructure, and renew 26,000 km of railway lines.
Furthermore, it has allocated INR 10 billion for the National Investment and Infrastructure Fund (NIIF), which is being leveraged to raise INR 80 billion from strategic anchor partners according to the Government’s Output Outcome Framework for Schemes 2017-18. The NIIF has attracted equity investment of US$ 100m from the Asian Infrastructure Investment Bank (AIIB) and is expected to secure another US$ 100m from AIIB.
In addition, the Ministry of Urban Development is planning investments to future-proof Indian cities. For instance, the Dedicated Freight Corridor (DFC) project, which is a broad gauge freight corridor being constructed by the Indian Railways, is expected to dramatically amplify market demand upon its completion by 2019. The project involves construction of six freight corridors straddling the entire country.
India is the second largest producer of cement globally and the industry has been a vital part of its economic development, providing employment opportunities to more than a million people, directly or indirectly. Some of the key areas driving demand for the India Cement Industry are:
Indian Cement Industry – Contribution to Domestic Economy
Indian Cement Industry – Revenue Source for Indian Railways
Indian Cement Industry – Socially Responsible
Indian Cement Industry – Creating Green Belt