Modi Govt. Open To Steel, Cement Producers
- 15-Jan-2021
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Big players in the steel and cement industry are indulging in cartelisation to jack-up prices, Union Road Transport Minister Nitin Gadkari has said, pitching to place a regulator for the sectors.
It will be difficult to achieve Prime Minister Narendra Modi's dream of making India a USD 5 trillion economy if the steel and cement prices keep going up, Gadkari said, pointing out the target of investing Rs 111 lakh crore on infrastructure projects in the next five years to aid the economy.
It can be noted that allegations of such cartelisation have been made in the past as well, especially by the real estate industry, which is impacted through higher input prices because of it.
"Regarding steel and cement, this is really a problem for all of us?. Actually, I feel this is a cartel by some big people are doing in cement and steel," Gadkari said while speaking at a virtual event organised by the Builders Association of India on Saturday.
The minister said he has discussed the issue with the Prime Minister and had a lengthy discussion on it with the Principal Secretary in the PMO as well.
