India: Delhi real estate developers to boycott Shree Cement

The Confederation of Real Estate Developers' Associations of India’s (CREDAI’s) regional representatives in Delhi have announced that they will boycott Shree Cement, according to reports in the Times of India.

CREDAI accuses the cement producer of pushing up prices and creating artificial scarcity. It intends to file a complaint with the Competition Commission of India (CCI).

A CREDAI spokesperson said: "Shree Cement is arbitrarily increasing prices and stopping supply in between, demanding a price revision, despite taking an advance. This is unacceptable to us and thus we have asked our members to boycott the company. We will definitely move CCI very soon for this.

"Through excuses such as plant not functioning properly, issues with transportation, etc, these companies are not meeting the delivery deadlines, thereby affecting the builders' construction timelines."

Previously, CREDAI’s Delhi chapter has boycotted UltraTech and Lafarge, although it dropped its protest when these firms responded by cutting prices.