Mr Gadkari Alleges Cartelization by Steel Makers Again
CartelizationNew Indian Express

Mr Gadkari Alleges Cartelization by Steel Makers Again

India’s Minister for Road Transport & Highways Mr Nitin Gadkari, alleging canalization by steel and cement players, has again emphasised on developing

India’s Minister for Road Transport & Highways Mr Nitin Gadkari, alleging canalization by steel and cement players, has again emphasised on developing ways to cut down usage of steel and cement in construction of roads and bridges in India. He said “Massive investment is made in the highways sector in India. Without compromising on quality, we need to reduce the cost of construction of roads and bridges. We should accept successful practices of road construction in the world and accept it in Indian scenario. Reduce the use of steel and cement in construction of roads and bridges. I want to teach lessons to cartels of steel and cement companies.”

Mr Gadkari has been raising concerns over steel price hikes. Mr Gadkari while speaking at a virtual event of Builders Association of India on 9 January 2021 had said “Regarding steel and cement, this is really a problem for all of us. Actually, I feel this is a cartel by some big people are doing in cement and steel. All the players in the steel industry have their own iron ore mines, and do not have to face any hikes in labour or power rates, why the steel industry has been hiking prices."

Mr Gadkari on 24 January had again highlighted the need to explore alternatives to steel as well as cement, for bringing down their prices. He had said "Steel prices have increased by 65% in the last six months. Steel and cement rates will reduce once cheaper alternatives are available.”

Related Stories

No stories found.
SteelGuru Business News
www.steelguru.com