Cement industry expects double-digit growth in FY19

The cement industry is expecting double-digit growth this fiscal after almost a gap of eight years, primarily led by the government's increased spending on big infrastructure projects, according to the Cement Manufacturers Association.

The industry has already recorded around 13 per cent growth in the first half of the current fiscal and expects the momentum to continue further in the second half.

The makers have also asked the government to lower the tax rate of 28 per cent applicable on cement under the GST regime, which is at par with luxury goods.

"We are expecting a high double-digit growth this year," said CMA President Shailendra Chouksey.

Chouksey, also a whole-time director with J K Lakshmi Cement, added: "This would be the first double-digit growth after almost eight years since 2011 when the industry had seen a slow-down."
He added: "In the last 25 years, the industry has grown about 7 per cent."