Manufacturers in India and China were anticipating growth on the back of an infrastructure splurge. The pandemic has forced them to cut back, and revival this year looks tough
Cement demand is expected to contract by 10-15 per cent in FY21 in base case scenario, and up to 25 per cent if the situation worsens
The demand for cement in India has gone up to 400 million tonnes (MT) from 30 MT four decades back
India's top cement makers are valued at $52 bn compared with Chinese industry's market cap of $48 bn