Cement sector to more than double by 2020: Scindia
The government on Tuesday said that the domestic cement industry will more than double from its present capacity of 242 million tonnes by 2020. HT Correspondent reports.business Updated: Nov 18, 2009 00:10 IST
The government on Tuesday said that the domestic cement industry will more than double from its present capacity of 242 million tonnes by 2020.
“The cement industry has managed to weather the storm of downturn that has affected user industries like real estate, and managed to grow commendably by around 8 per cent in 2007-08 as well as 2008-09,” said Jyotiraditya Scindia, minister of state for commerce and industry while inaugurating a four-day International Seminar on Cement and Building Materials.
“The industry, which is the second largest after China, has achieved an installed capacity of 242 million tonnes at present and is targeted to reach 300 million tonnes by 2011-2012 and 600 million by 2020.”
He also appreciated the impressive growth achieved by the construction industry, which is the second largest economic activity in India after agriculture and has grown at an annual rate of 9 to 10 per cent.
Scindia also lauded the industry for its efforts in better utilisation of waste and energy conservation. “The initiatives taken by Indian cement industry towards waste utilisation are evident from the fact that production of blended cements in the country in the year 2008-09 was as high as 74 per cent as against only 36 per cent in 2000-01”, he said.