October 11, 2008

Cement export ban will help stabilize prices – Centre

Indian government said that cement prices in India will stabilize on the back of export ban imposed on the building material to augment domestic supplies and asserted that suitable measures will be taken to check cartelization in the sector.

Mr Ashwani Kumar union minister of state for industry said that "Post ban on cement exports, prices are bound to stabilize because that much more cement will be available within the country and therefore the mismatch between demand and supply will be addressed to that extent."

Mr Kumar said that the government will continue to take measures to check cartelization in cement, steel and any other industry as controlling prices is the foremost priority of the government. He added that "We have already enabled the state governments to cap the amount of stocks any stockist can keep which will then release a lot more stocks in the market of primary commodities."