Economy & Market

The Sad Story of the Stimulus

Published

7 years ago

January 6, 2020

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The shock is enormous, the people are left stunned, and the economy is reeling. Clearly, the The shock is enormous, the people are left stunned, and the economy is reeling. Clearly, the pandemic is taking an unprecedented toll on our bodies and minds. is taking an unprecedented toll on our bodies and minds. But there is this foreboding that something more disastrous is looming on the horizon. This apprehension is gaining ground from the ever declining GDP growth projections for the year 2020-21; In March, experts were talking about a 2 per cent growth for FY21, in April it became 0 per cent, in May it went down to -2 per cent, and today in early June, the forecast has plummeted to -5 per cent, with some naysayers pegging it at -10 per cent. While none of these numbers shock us any more, there are two major points to be remembered in this context.

Firstly, this recession is definitely going to hit India more than other countries, because we are entering this Covid-infested recession with two years of slowdown already having wounded our economy severely. This is aptly described as "We were already hurtling downhill, but now we are going to be thrown over the cliff".

And may be that is why even a projected -10 per cent decline in GDP does not shock us anymore. But we are in awe of what this means for the future. We are scared because we try to figure out the implications even as we have no past experience, nor any notion of what this may mean to our citizens and our existence. Understandably, this has not happened before, in our lifetime, and we have no precedents to fall back on. But the bottom line is clearly that India will be one of the worst hit nations in the aftermath of this war with the virus, and with its coffers already weakened by successive years of stretched finances, India’s ability to claw out of this economic hole may be seriously impaired.

The second point to note is more profound and definite, and this has to do with our battle with poverty. I heard it said somewhere that pushing for economic growth is our moral obligation to the poor. Every 1 per cent additional growth of GDP per capita is said to lift three million people out of poverty and unfortunately the reverse is also true. As it is, the drooping growth of the last two years have been a great lost opportunity for us to improve the lot of lots of our underprivileged fellow countrymen. But that misfortune now looks like small change when we consider the deep impact of a 10 to 15 per cent swing of GDP growth number. Such an economic calamity will push at least 30 million people back into poverty, and take us backwards many years in our long and arduous developmental journey.

Like governments around the world, India has also announced a flurry of "stimulus" measures totalling up to an apparently massive 20 lakh crore package, purportedly hitting the golden mark of 10 per cent of our GDP. However, independent observers have analysed this to be really between 1.3 to 1.9 lakh crore only, the rest being deferments and credit lines, etc. The package has also been criticised for being silent about creating demand, which was the need of the hour. Given this background, it is now projected that recovery of our economy has to wait at least till next calendar year.

The cement industry was already impacted by the general economic slowdown in the economy. We noted that the production of cement in FY19 has shown a degrowth of 0.8 per cent already against a 13 per cent growth in the year before. And now with the Covid-19 pandemic, and what with the fact that the stimulus package has not done much to excite consumption, cement production is expected to decline by 25 to 30 per cent during FY21 and capacity utilisation is expected to be only about 45 per cent. If this does happen, this will be one of the steepest ever fall in capacity utilisation and production that the industry would have ever experienced.

Concrete

Wonder Cement appoints Mahesh Singh as VP Corporate Brand Communication

Published

5 days ago

October 9, 2026

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Singh brings 20+ years of brand and marketing experience, and will lead integrated corporate brand communication initiatives at Wonder Cement

New Delhi

Wonder Cement, a leading cement manufacturer, has appointed Mahesh Singh as Vice President – Corporate Brand Communication. In his new role, he will oversee corporate brand strategy and communication, including digital and performance marketing, public relations, trade, events, exhibitions, sports and experiential marketing.

Singh brings over two decades of experience across marketing and communications, with roles spanning the automotive industry, agencies and entrepreneurship. He spent more than a decade with Honda Motorcycle & Scooter India, working across integrated communication, media, digital, retail and consumer engagement. His stint also included helping build the company’s digital marketing capabilities.

He moved to dentsu X India as Vice President – Strategy & Planning, working across categories such as automotive, auto components, electric vehicles, FMCG, consumer electronics, BFSI, apparel and brand consulting. His responsibilities included media and marketing strategy, product launches, content, performance marketing and consumer activations.

Singh subsequently took an entrepreneurial route with Radiant Brands before joining Shriram Ltd (SPR Autotech) as Head – Marketing & Communications. There, his remit included brand and corporate strategy, communications, PR and ORM, retail identity, loyalty programmes and events.

At Wonder Cement, Singh will be responsible for bringing together the company’s corporate brand communication initiatives across digital, performance marketing, PR, trade, sports and experiential platforms. The role will focus on creating an integrated approach to communication across consumers, trade partners and other key stakeholders.

The appointment brings to Wonder Cement a marketer whose career has spanned the brand, agency and entrepreneurial sides of the communications ecosystem.

Wonder Cement, part of the RK Group, is a cement manufacturer with roots in Rajasthan and a focus on quality, trust and transparency. The company has grown to six manufacturing plants, and a cement capacity of 21.5 MTPA. With more than 2,000 employees and a network of over 5,000 dealers, its operations span manufacturing, distribution and customer engagement, with a focus on consistent product quality and efficient execution.

Concrete

JSW Cement commissions additional 1 MTPA grinding unit at Nagaur

Published

6 days ago

October 8, 2026

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With this commissioning, JSW Cement’s total cement grinding capacity has increased to 25.10 MTPA,
Mumbai

JSW Cement, one of India’s leading green cement producers and part of the diversified JSW Group, today announced the successful commissioning of an additional 1.00 MTPA cement grinding unit at Nagaur, Rajasthan. The commissioning marks another significant milestone in the Company’s growth strategy.

With this commissioning, JSW Cement’s total cement grinding capacity has increased to 25.10 MTPA, while its total clinker manufacturing capacity, including clinker capacity at its joint venture, JSW Cement FZC, stands at 9.74 MTPA.

JSW Cement had commenced operations in North India in March 2026 with the Nagaur Integrated Plant, comprising a 3.30 MTPA clinkerisation unit and 2.50 MTPA cement grinding unit. With the commissioning of the additional 1.00 MTPA cement grinding unit, the plant’s total cement grinding capacity has increased to 3.50 MTPA, enhancing the company’s ability to cater to the growing cement demand across Rajasthan, Haryana, Punjab and the National Capital Region (NCR). The expansion has been funded through a strategic mix of equity and long-term debt.

During the quarter ended 30th September 2026, JSW Cement has also commissioned the Alternate Fuel Handling System and the Waste Heat Recovery system (WHRS) at the Nagaur Integrated Plant.

Nilesh Narwekar, CEO, JSW Cement, said: “The commissioning of additional 1.00 MTPA grinding capacity at Nagaur is a key strategic priority for us and will accelerate JSW Cement’s expansion into North India. We look forward to servicing the growing needs of the region and contributing to the economic growth of Rajasthan, Haryana, Punjab and the NCR area. I am delighted to share that the company has commissioned this grinding unit within the expected timeline, showcasing our project execution capabilities. Further, the Alternate Fuel Handling System and the Waste Heat Recovery system (WHRS) are expected to substantially reduce our production costs going forward.”

Concrete

UltraTech becomes first Indian cement firm to cross 2 GW green energy

Published

1 week ago

October 7, 2026

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UltraTech Cement has crossed 2 GW of captive green energy capacity, with renewables and waste heat recovery meeting 48 per cent of its power needs.

Mumbai

UltraTech Cement Limited has surpassed 2 GW of installed green energy capacity for captive use, becoming the first cement company in India to achieve the milestone. The Aditya Birla Group company commissioned 116.55 MW of wind capacity at its Inter-State Transmission System-connected wind-solar hybrid project in Barmer, Rajasthan, along with 10 MW of Waste Heat Recovery System capacity at Sarlanagar Cement Works in Karnataka.

With these additions, UltraTech’s cumulative installed green energy capacity has reached 2,024 MW. This includes 1,580 MW of renewable energy capacity and 444 MW of waste heat recovery capacity, together meeting around 48 per cent of the company’s current power requirements.

The company said the milestone reflects the progress of its long-term energy transition strategy. In FY27 so far, nearly one-third of UltraTech’s 76 manufacturing units in India have maintained green energy utilisation above 50 per cent of their electricity requirements, while five units have crossed 95 per cent.

K C Jhanwar, Managing Director, UltraTech Cement Limited, said, “Crossing the 2 GW green energy milestone is the result of a strategy we have pursued consistently over the past decade. Cement is an energy-intensive, hard-to-abate sector, and showing that reliability and growth can go hand in hand with a rapid shift to green energy sets a benchmark for the industry. With nearly half of our power needs now met through green energy, we are significantly less exposed to fossil fuel supply constraints and power price volatility. As we scale up renewables, waste heat recovery and battery storage across our operations, we are building an energy foundation for stable, long-term growth.”

UltraTech commissioned 430 MW of green energy capacity in FY26 and continues to expand its renewable energy and waste heat recovery portfolio.

The company is also progressively integrating Battery Energy Storage Systems across its operations to improve renewable energy utilisation and supply reliability.

In 2025, UltraTech operationalised what it described as India’s first on-site hybrid round-the-clock renewable energy project at Sewagram Cement Works in Gujarat. The project combines solar, wind and battery storage.

As part of its decarbonisation strategy, UltraTech said it has not invested in new captive thermal power capacity for either greenfield projects or brownfield expansions at its integrated units for more than a decade.

The company said its expanding green energy portfolio is helping reduce dependence on conventional grid electricity and fossil fuel-based power, while lowering exposure to fluctuations in coal and electricity prices.

UltraTech aims to increase green energy’s share in its total power mix to 85 per cent by 2030. As a member of RE100, it has also committed to meeting 100 per cent of its electricity requirement through renewable sources by 2050.

UltraTech Cement, the cement flagship of the Aditya Birla Group, has a total grey cement capacity of 210.1 MTPA and white cement and putty capacity of 3.5 MTPA. The company is also a signatory to the GCCA Climate Ambition 2050 and has committed to the GCCA Net Zero Concrete roadmap.