India: looking for the next leap
India’s cement sector continued on the right track in 2022 as growth has begun to reset to a more realistic level. The government’s infrastructure push and a continued focus on affordable housing ahead of next year’s general election are proving key demand drivers and will likely to lead to further, more sustainable gains in consumption going forward.
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Increased industry confidence, a high, sustainable growth trajectory and moderating fuel costs bode well for
cement producers in India (© UltraTech Cement)
After three years of consecutive aberrations in growth, India’s 560Mta cement industry ended 2022 with long-awaited realistic growth of 10.2 per cent. Although prima facie there appeared to be a sharp moderation compared to the previous year, the advance is in line with the expected trend.