Steel, cement sector in hands of few people, cartels a big problem: Gadkari

Union Minister for Road Transport Nitin Gadkari on Tuesday said the steel and cement industry "cartels" pose a big problem for the country and its infrastructure development.

There are very few players in the two sectors, which are critical for infrastructure development, and these players act in cahoots.

"Steel and cement industries are in the hands of a few people. They always decide the rates. Their cartelism is a big problem for the country," he said, speaking at the IECRP 2025 exhibition here.

The Union minister said the fiber-reinforced plastic (FRP) can act as a good alternative to break the hold of the steel and cement companies and offered every help possible.

"To create alternative material is my important interest to support you," he said.

However, he urged the FRP players to bring down their prices such that the final costs are less by 20-25 per cent than the other entrenched alternatives.

He said FRP players will have to invest in their research and development by spotting the right raw material, and produce domestically to ensure that the sector can do good.

FRP can be used in a slew of sectors such as infrastructure, aviation, shipping, road building, and metro rail, he said.

"If you can reduce the rate as compared to the steel by 20-25 pc, then it can be a really good thing for the country," he told the FRP industry participants.

Gadkari also said he wants to reduce the cost of manufacturing hydrogen to USD 1 per kg from the present over Rs 300 and added achieving this can make India a net exporter of energy.

The Union minister added that he wishes to make India into the biggest auto hub globally from the present third position over the next five years.