A pick-up in demand for steel and successive price increases is prompting companies to bring back focus on the domestic market.
Steel companies are mulling an increase in prices up to Rs 2,000 a tonne in February, which would be the fourth increase in a row. The price differential between domestic steel and imports is approximately $30 a tonne currently.
JSW Steel, director (commercial & marketing), Jayant Acharya said there is a potential for prices to increase to that extent.
N Srinivasan, Vice-Chairman and Managing Director of India Cements said, “By the time the next settlement (wage) comes, in 2022, we will have significantly fewer permanent employees across all our manufacturing facilities put together,” adding that the unions have realised that their main constituency (permanent workers) has already gone and that they are mobilising contract workers in order to stay relevant.
The Road Transport, Highways and MSME Minister said that projects specially about Rs 1 lakh crore Delhi-Mumbai express highway can offer instant right of way to players interested in setting up LNG stations, electric charging stations or petrol pumps.
Reliance Industries is launching a project to use plastics in road construction, amid growing concerns over pollution in the country of 1.3 billion whose major cities are often plagued with smog and litter.