Cement industry to grow to 5% by next fiscal : ICRA

Cement industry to grow to 5% by next fiscal : ICRA

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ICRA
Cement demand growth to outspace supply in FY16

Investment Information and Credit Rating Agency (ICRA) said that FY2016-17 would be a flat year for the industry because of demonetisation. It had created a negative impact on real estate and construction activities.

The increased allocation for infrastructure sector which includes roads, railways, metro, irrigation and housing, during FY 2017-18 which will increase cement demand.

” Also higher rural credit and increased allocation for rural, agricultural and allied sectors , including the demand for rural housing , are significant contributors to the overall cement demand mix” , ICRA Ratings Senior Vice President & Group Head, Sabyasachi Majumdar said.

News source : economictimes

Image source : thehindubusinessline

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