Mr Gadkari Wows to Control Indian Steel & Cement Firms
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Mr Gadkari Wows to Control Indian Steel & Cement Firms

Economic Times reported that Indian government is finding alternatives to reduce the use of cement and steel in highway construction in a bid to check

Economic Times reported that Indian government is finding alternatives to reduce the use of cement and steel in highway construction in a bid to check rising costs and a committee has been formed in the Ministry of Road Transport & Highways to look at such alternatives and best international practices in construction. Transport Minister Mr Nitin Gadkari in an exclusive interview with ET told “They should be brought under control. I will write to the PM about this. If this continues, how will roads be built, how will we implement the PM Awas Yojana, how will MSMEs survive? The imbalance created by cement companies will not be tolerated. They are forming a cartel and increasing prices. MSMEs are facing trouble because of this.”

The minister is also considering approaching the Prime Minister to form a regulatory commission to rein in companies in these sectors.

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.”

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