Cement Demand to Surge on Infra Push: CMA

New Delhi, Jul 23 (PTI) The government's strong emphasis on infrastructure development through various significant projects and allocations will undoubtedly drive demand for cement and other building materials, Cement Manufacturers' Association (CMA) on Tuesday.

Terming the Budget as "transformative and forward-looking" with an eye on fiscal consolidation, it has a strong focus on infrastructure development, employment generation and energy security, it added.

"The announcement of Rs 11 lakh crore capital expenditure signifies the Government's commitment to modernising India's infrastructure through various significant projects and allocations, which will undoubtedly drive demand for cement and other building materials," said CMA President Neeraj Akhoury.

These initiatives collectively illustrate the budget's comprehensive and strategic approach to bolstering India's infrastructure across various sectors, said Akhoury, who is also Managing Director of Shree Cement.

Parth Jindal, Vice President, CMA, said the budget focus on employment, skilling, and urban development is a significant step towards inclusive growth.

"The Budget indeed paves the way for a robust and resilient economy, fostering growth that is both equitable and sustainable. The Prime Minister's package, with its emphasis on skilling and employment-linked incentives, will not only further enhance workforce capabilities but also generate new job opportunities within the Cement sector," said Jindal, who is also Managing Director of JSW Cement.

The Budget also has a transition roadmap for 'hard to abate' industries to move from the 'Perform, Achieve and Trade' mode to the 'Indian Carbon Market' mode, which is a welcome step.

According to CMA, it is a win-win for both the economy and the environment, and the cement industry is poised to play a pivotal role in the Nation's development journey, said CMA.

"The roadmap will further boost India's energy infrastructure and encourage renewable energy adoption. Overall, this Budget is a win-win for both the economy and the environment, and the cement industry is poised to play a pivotal role in the Nation's development journey," said Akhoury.

Cement Manufacturers' Association is the apex body of large cement manufacturers in India, representing almost 75 per cent of the total installed cement capacity in India.