The 197 million tonne domestic cement industry is set to clock double digit growth from next fiscal with demand outstripping even the 57 million tonne capacity addition expected by FY14.
It says that INR 77,800 crore domestic cement market, already one of the fastest growing ones globally and the second largest among the emerging markets after China is on course to a double digit growth path.
Ernst & Young India partner Mr Nitin Gupta says in a report titled “Cementing India "From FY13 the domestic demand is expected to exceed supply From FY12 through FY14 the domestic cement industry will add at least 54 million tonne new capacity."
He said that "Moreover the country lags significantly behind China on the infrastructure front and can register an unprecedented growth in infrastructure in future. This is a clear indicator that the industry has huge growth potential and is on course to witness double-digit growth in the coming years."
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