UltraTech - February 2019
Cement demand in India is expected to expand by 1.2 times the GDP growth rate over the long term, according to UltraTech. This will be driven by increased government spending on large infrastructure projects and low cost housing. Just last month the Reserve Bank of India forecast an economic growth rate of 7.4 per cent for 2019-20.
India is home to around 65 cement producers with over 220 plants. Total installed capacity stands at around 470Mta, of which UltraTech controls 105Mta. With per capita cement consumption in India currently standing at only 210 kg, there is great potential for growth, with UltraTech expecting to see further consolidation within the local market and the arrival of new capacity.