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Economy & Market

In the interim

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The Union Budget 2024-25, in the election year, brings to the industrial sector exactly what is expected of an interim budget. Careful about not causing discontent over taxation, the Budget rides high on infrastructural growth and sustainability. ICR looks at the key highlights of the budget and the industry’s reaction to it.

As the honourable Finance Minister Nirmala Sitharaman presented the Interim Union Budget 2024-25 in the Parliament, the eyes and ears of the entire nation were glued to the live telecast to know firsthand what it entails. For taxpayers, the Budget came as a big sigh of relief as there were no changes in the tax brackets. With the many social welfare schemes that the PMO has been running as well as its focus on infrastructure growth, the details of this Budget are surely of interest for industries such as cement.
The pre-Budget sentiment of the industry revolved around the following aspects:

  • Increased infrastructure spending: The government is expected to continue focusing on infrastructure development, which could lead to higher demand for cement.
  • Focus on sustainability: The Budget might allocate funds for sustainable practices and manufacturing innovation in the cement industry, potentially reducing costs and enhancing its contribution to India’s green goals.
  • Logistics and export support: Measures to improve logistics and export policies could stabilise costs and make Indian cement more competitive globally.
  • Rising input costs: The industry is grappling with rising costs of coal and pet coke. The Budget is likely to address these concerns, through measures such as GST rationalisation or import duty reduction.

Once the Budget was announced, it was met with applaud from the industry. Here are the key highlights of the Interim Budget:

  • The capital expenditure outlay for infrastructure development and employment generation will be increased by 11.1 per cent to Rs 11,11,111 crore, that will be 3.4 per cent of the GDP.
  • On reforms in the states for ‘Viksit Bharat’, a provision of Rs 75,000 crore rupees as fifty-year interest free loan has been proposed to support milestone-linked reforms by the state governments.
  • Three major economic railway corridor programmes have been identified under the PM Gati Shakti, which will be implemented to improve logistics efficiency and reduce cost energy, mineral and cement corridors, port connectivity corridors and high traffic density corridors.
  • As per the PM Awas Yojana (Grameen), the target of three crore houses will be achieved soon. At least two crore more houses will be taken up in the next five years.

Industry expert reactions

“Nuvoco welcomes the initiatives in the latest Interim Budget, which acknowledges the Government’s commitment to growing the economy in challenging geopolitical conditions. As part of the PM Gati Shakti program, to foster strong multimodal connectivity, three proposed major economic railway corridors focusing on energy, minerals, and cement will improve logistics efficiency and reduce costs. This will benefit both the industry and the economy.
In addition, the focus on the Individual House Builders (IHB) Segment, particularly the new housing scheme for the middle class, aligns perfectly with the nation’s socio-economic goals. The initiative to construct two crore houses under the PM Awas Yojana and the progress of the Pradhan Mantri Awas Yojana (Grameen), with an additional two crore homes planned to be built over the next five years, is particularly noteworthy. The government’s efforts to improve port connectivity, decongest high-traffic rail corridors, and transform metro rail are positive developments for the ready-mix concrete industry. These measures should further improve the standard of living for millions of people and offer numerous opportunities for economic and community development.”

Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. Ltd

“JK Lakshmi Cement applauds the Honourable Finance Minister, Shree Nirmala Sitharaman, for crafting the visionary Union Budget 2024-25, a blueprint that aligns profoundly with our ethos of inclusive development. As a stalwart in the cement industry, we welcome the Government of India’s commitment to fostering growth, sustainability, and inclusivity. The Government’s strategic focus on all forms of infrastructure, be it digital, social, or physical, and a strong emphasis on women’s empowerment, resonates with our forward-looking mission. The significant increase in infrastructure outlay to INR 11.11 lakh crores and the emphasis on green growth shows the Government’s pursuit to propel our nation towards economic excellence.”
“As a key player in the cement sector, we are eager to contribute meaningfully to the strategic railway corridor programmes, particularly those targeting energy, mineral and cement corridors. We also applaud the Government’s efforts to deepen GST reforms, creating a more unified and efficient tax regime. This, coupled with initiatives like the bio-manufacturing scheme, and multi-modal connectivity projects, creates a favourable environment for sustained economic growth and job creation. As we navigate the next five years of unprecedented development, JK Lakshmi Cement remains steadfast in its commitment to supporting the Government’s vision of a Vikisit Bharat by 2047 and contributing to the nation’s journey towards economic excellence while creating opportunities for all.”

Arun Shukla, President and Director, JK Lakshmi Cement

“Aatmanirbharta and Viksit Bharat were foundational to the budget, embodying a visionary approach and setting the stage for a robust and dynamic economic landscape, aligning with the government’s mission to build a prosperous and self-reliant India on the global stage. As a prominent solar manufacturer, we appreciate the Rooftop Solarisation+Muft Bijli and are hopeful that this forward-thinking scheme is a groundbreaking effort to democratise access to solar power, making clean energy an integral part of everyday life. Our ethos centres around making solar energy not only environmentally friendly but also economically viable and we anticipate that this initiative will catalyse the transition towards renewable energy and provide a major breakthrough in the energy sector. While we were anticipating updates on GST for solar products, we look forward to the detailed budget for further insights. The collective effort toward energy independence and a more sustainable future gives the much-needed impetus and instils a newfound motivation towards making India a green nation. We are optimistic that the full-fledged budget will open new doors and provide a plethora of opportunities that will not only impact the communities nationwide, but contribute to a cleaner, greener, and more sustainable energy landscape.”

Raman Bhatia, Founder & Managing Director, Servotech Power Systems (for Solar Industry)

“As we navigate the landscape of Union Budget 2024, it’s crucial for the government to accentuate and foster an environment for both local and global investments in semiconductor technology, AI, and digital platforms. This strategic focus aligns with our industry’s evolution. Simultaneously, we recognise the imperative to integrate these cutting-edge technologies into our educational curriculum, ensuring a skilled workforce. This synergy is pivotal for propelling our nation towards the coveted 7 trillion economy by 2030.”

Sushil Virmani, Managing Director,Best Power Equipment (BPE)

“We acknowledge the strategic direction outlined in the 2024 interim budget, particularly its focus on reinforcing the affordable housing sector. The progress in the implementation of PMAY – Grameen, approaching the target of three crore houses, with a commitment to taking up construction of two crore additional houses over the next five years, reflects the government’s dedication to meet the growing demand for housing in rural areas.”

Ashwin Sheth,CMD, Ashwin Sheth Group

“The Interim Budget for 2024-25 presented by Union Finance Minister Nirmala Sitharaman reflects a comprehensive vision aimed at fostering inclusive growth and sustainable development in India. The focus on transforming India into ‘Viksit Bharat’ by 2047 underscores the government’s long-term commitment to national development. This vision, encapsulated in the slogan ‘sabka saath, sabka vikas’ (together with all, development for all), emphasises the inclusive nature of the government’s approach. The emphasis on GDP, redefined as governance, development, and performance, is a strategic move, particularly in the context of the upcoming general election. This redefinition indicates a shift towards a holistic view of economic growth, one that intertwines effective governance and sustainable development with performance metrics. It’s a narrative that might resonate well with the electorate, considering the administration’s bid for a third consecutive term. The commitment to the PMY – Grameen, with the target of constructing two crore additional houses, continues the government’s focus on rural development. Achieving the milestone of three crore houses under the rural housing scheme and setting an ambitious target for the next five years reflects a significant investment in infrastructure development that addresses a basic need – housing.”

Sandeep Runwal,President, NAREDCO Maharashtra

“The Interim budget was laid on the premises of infrastructure, housing, green energy initiatives and innovation, setting up the foundation for a 6-7 per cent sustained GDP growth in the next few years. The unwavering commitment to infrastructure development stands as a cornerstone for fostering economic growth, extending tangible impact on the real estate sector in the longer run. The strong 11.1 per cent YoY increase in infrastructure outlay to over INR 11 lakh crore signals a steady and significant wave of upcoming developments and opening of vast opportunities for all stakeholders including real estate. The continued emphasis on green growth, particularly through the promotion of electric public transport and charging infrastructure development, further positions India on the path of sustainable and environmentally conscious real estate development. At the same time, the government’s persistent emphasis on affordable housing unveils a myriad of opportunities for residential developers, as they position themselves to make substantial contributions, aligning with the broader vision of inclusive and accessible living. Amid positive market synergies in the form of stable interest rates, attractive incentives and increased affordability, domestic investors too are likely to resonate upbeat confidence towards all real estate segments.

Badal Yagnik,Chief Executive Officer, Colliers India

“The establishment of new infrastructure corridors for ports, energy, minerals and cement will boost manufacturing and supply chains. Doubling the number of airports to 149 will energise the aviation sector. As a manufacturing-focused company, we welcome the government’s aim to enhance the EV ecosystem through manufacturing and charging infrastructure support.

Rahul Garg, Founder and CEO, Moglix

“The interim budget for FY 2024-25 lays a strong foundation for economic growth and resilience through major impetus on infrastructure development. At Louis Berger, we are pleased to see the emphasis on this sector which will be a catalyst in ensuring equitable access and participation in economic opportunities across the nation. We welcome the increase in capital expenditure on infrastructure for the fourth consecutive year to 11.11 lakh core. This will accelerate the efficient use of land resources, enable adequate resources for existing and upcoming urban infrastructure, enhanced availability and affordability of urban land and job creation.”

Surajit Bhattacharya, Vice President & Executive Director (Asia), Louis Berger

“Keeping the fiscal consolidation target at 5.1 per cent will decrease the cost of borrowing for businesses and industries. This in turn will help stimulate economic growth, stabilise the economy and reduce the risks of inflation. The enhancement in infrastructure outlay by 11 per cent will bode well for firming up the growth of residential, commercial and industrial real estate asset classes across the geographies. The augmentation of multi-modal corridor connectivity with new railway corridors and doubling of airports and ports corridors will have a multiplier effect on the real estate landscape.
The extension of the PMAY scheme for rural areas is in accordance with the objective of Housing for all laid by the Hon’ble PMO. A focused direction is set for addressing the housing deficit needs of the urban poor with the buy or build house motto. The continual skilling and upskilling of the working populace will help the sector gain a competitive advantage and increase direct as well as indirect employment opportunities. Therefore, India’s vision for Amrit Kaal is stated very clearly and thus the country is on track to becoming Vikshit Bharat by 2047.”

  • Dr Niranjan Hiranandani, Founder, Hiranandani Group, and Chairman, National Naredco

Economy & Market

Smart Pumping for Rock Blasting

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SEEPEX introduces BN pumps with Smart Joint Access (SJA) to improve efficiency, reliability, and inspection speed in demanding rock blasting operations.
Designed for abrasive and chemical media, the solution supports precise dosing, reduced downtime, and enhanced operational safety.

SEEPEX has introduced BN pumps with Smart Joint Access (SJA), engineered for the reliable and precise transfer of abrasive, corrosive, and chemical media in mining and construction. Designed for rock blasting, the pump features a large inspection opening for quick joint checks, a compact footprint for mobile or skid-mounted installations, and flexible drive and material options for consistent performance and uptime.

“Operators can inspect joints quickly and rely on precise pumping of shear-sensitive and abrasive emulsions,” said Magalie Levray, Global Business Development Manager Mining at SEEPEX. “This is particularly critical in rock blasting, where every borehole counts for productivity.” Industry Context

Rock blasting is essential for extracting hard rock and shaping safe excavation profiles in mining and construction. Accurate and consistent loading of explosive emulsions ensures controlled fragmentation, protects personnel, and maximizes productivity. Even minor deviations in pumping can cause delays or reduce product quality. BN pumps with SJA support routine maintenance and pre-operation checks by allowing fast verification of joint integrity, enabling more efficient operations.

Always Inspection Ready

Smart Joint Access is designed for inspection-friendly operations. The large inspection opening in the suction housing provides direct access to both joints, enabling rapid pre-operation checks while maintaining high operational reliability. Technicians can assess joint condition quickly, supporting continuous, reliable operation.

Key Features

  • Compact Footprint: Fits truck-mounted mobile units, skid-mounted systems, and factory installations.
  • Flexible Drive Options: Compact hydraulic drive or electric drive configurations.
  • Hydraulic Efficiency: Low-displacement design reduces oil requirements and supports low total cost of ownership.
  • Equal Wall Stator Design: Ensures high-pressure performance in a compact footprint.
  • Material Flexibility: Stainless steel or steel housings, chrome-plated rotors, and stators in NBR, EPDM, or FKM.

Operators benefit from shorter inspection cycles, reliable dosing, seamless integration, and fast delivery through framework agreements, helping to maintain uptime in critical rock blasting processes.

Applications – Optimized for Rock Blasting

BN pumps with SJA are designed for mining, tunneling, quarrying, civil works, dam construction, and other sectors requiring precise handling of abrasive or chemical media. They provide robust performance while enabling fast, reliable inspection and maintenance.With SJA, operators can quickly access both joints without disassembly, ensuring emulsions are transferred accurately and consistently. This reduces downtime, preserves product integrity, and supports uniform dosing across multiple bore holes.

With the Smart Joint Access inspection opening, operators can quickly access and assess the condition of both joints without disassembly, enabling immediate verification of pump readiness prior to blast hole loading. This allows operators to confirm that emulsions are transferred accurately and consistently, protecting personnel, minimizing product degradation, and maintaining uniform dosing across multiple bore holes.

The combination of equal wall stator design, compact integration, flexible drives, and progressive cavity pump technology ensures continuous, reliable operation even in space-limited, high-pressure environments.

From Inspection to Operation

A leading explosives provider implemented BN pumps with SJA in open pit and underground operations. By replacing legacy pumps, inspection cycles were significantly shortened, allowing crews to complete pre-operation checks and return mobile units to productive work faster. Direct joint access through SJA enabled immediate verification, consistent emulsion dosing, and reduced downtime caused by joint-related deviations.

“The inspection opening gives immediate confidence that each joint is secure before proceeding to bore holes,” said a site technician. “It allows us to act quickly, keeping blasting schedules on track.”

Framework agreements ensured rapid pump supply and minimal downtime, supporting multi-site operations across continents

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Concrete

Digital process control is transforming grinding

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Satish Maheshwari, Chief Manufacturing Officer, Shree Cement, delves into how digital intelligence is transforming cement grinding into a predictive, stable, and energy-efficient operation.

Grinding sits at the heart of cement manufacturing, accounting for the largest share of electrical energy consumption. In this interview, Satish Maheshwari, Chief Manufacturing Officer, Shree Cement, explains how advanced grinding technologies, data-driven optimisation and process intelligence are transforming mill performance, reducing power consumption and supporting the industry’s decarbonisation goals.

How has the grinding process evolved in Indian cement plants to meet rising efficiency and sustainability expectations?
Over the past decade, Indian cement plants have seen a clear evolution in grinding technology, moving from conventional open-circuit ball mills to high-efficiency closed-circuit systems, Roller Press–Ball Mill combinations and Vertical Roller Mills (VRMs). This shift has been supported by advances in separator design, improved wear-resistant materials, and the growing use of digital process automation. As a result, grinding units today operate as highly controlled manufacturing systems where real-time data, process intelligence and efficient separation work together to deliver stable and predictable performance.
From a sustainability perspective, these developments directly reduce specific power consumption, improve equipment reliability and lower the carbon footprint per tonne of cement produced.

How critical is grinding optimisation in reducing specific power consumption across ball mills and VRMs?
Grinding is the largest consumer of electrical energy in a cement plant, which makes optimisation one of the most effective levers for improving energy efficiency. In ball mill systems, optimisation through correct media selection, charge design, diaphragm configuration, ventilation management and separator tuning can typically deliver power savings of 5 per cent to 8 per cent. In VRMs, fine-tuning airflow balance, grinding pressure, nozzle ring settings, and circulating load can unlock energy reductions in the range of 8 per cent to 12 per cent. Across both systems, sustained operation under stable conditions is critical. Consistency in mill loading and operating parameters improves quality control, reduces wear, and enables long-term energy efficiency, making stability a key operational KPI.

What challenges arise in maintaining consistent cement quality when using alternative raw materials and blended compositions?
The increased use of alternative raw materials and supplementary cementitious materials (SCM) introduces variability in chemistry, moisture, hardness, and loss on ignition. This variability makes it more challenging to maintain consistent fineness, particle size distribution, throughput and downstream performance parameters such as setting time, strength development and workability.
As clinker substitution levels rise, grinding precision becomes increasingly important. Even small improvements in consistency enable higher SCM utilisation without compromising cement performance.
Addressing these challenges requires stronger feed homogenisation, real-time quality monitoring and dynamic adjustment of grinding parameters so that output quality remains stable despite changing input characteristics.

How is digital process control changing the way grinding performance is optimised?
Digital process control is transforming grinding from an operator-dependent activity into a predictive, model-driven operation. Technologies such as online particle size and residue analysers, AI-based optimisation platforms, digital twins for VRMs and Roller Press systems, and advanced process control solutions are redefining how performance is managed.
At the same time, workforce roles are evolving. Operators are increasingly focused on interpreting data trends through digital dashboards and responding proactively rather than relying on manual interventions. Together, these tools improve mill stability, enable faster response to disturbances, maintain consistent fineness, and reduce specific energy consumption while minimising manual effort.

How do you see grinding technologies supporting the industry’s low-clinker and decarbonisation goals?
Modern grinding technologies are central to the industry’s decarbonisation efforts. They enable higher incorporation of SCMs such as fly ash, slag, and limestone, improve particle fineness and reactivity, and reduce overall power consumption. Efficient grinding makes it possible to maintain consistent cement quality at lower clinker factors. Every improvement in energy intensity and particle engineering directly contributes to lower CO2 emissions.
As India moves toward low-carbon construction, precision grinding will remain a foundational capability for delivering sustainable, high-performance cement aligned with national and global climate objectives.

How much potential does grinding optimisation hold for immediate energy
and cost savings?
The potential for near-term savings is substantial. Without major capital investment, most plants can achieve 5 per cent to 15 per cent power reduction through measures such as improving separator efficiency, optimising ventilation, refining media grading, and fine-tuning operating parameters.
With continued capacity expansion across India, advanced optimisation tools will help ensure that productivity gains are not matched by proportional increases in energy demand. Given current power costs, this translates into direct and measurable financial benefits, making grinding optimisation one of the fastest-payback operational initiatives available to cement manufacturers today.

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Concrete

Refractory demands in our kiln have changed

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Radha Singh, Senior Manager (P&Q), Shree Digvijay Cement, points out why performance, predictability and life-cycle value now matter more than routine replacement in cement kilns.

As Indian cement plants push for higher throughput, increased alternative fuel usage and tighter shutdown cycles, refractory performance in kilns and pyro-processing systems is under growing pressure. In this interview, Radha Singh, Senior Manager (P&Q), Shree Digvijay Cement, shares how refractory demands have evolved on the ground and how smarter digital monitoring is improving kiln stability, uptime and clinker quality.

How have refractory demands changed in your kiln and pyro-processing line over the last five years?
Over the last five years, refractory demands in our kiln and pyro line have changed. Earlier, the focus was mostly on standard grades and routine shutdown-based replacement. But now, because of higher production loads, more alternative fuels and raw materials (AFR) usage and greater temperature variation, the expectation from refractory has increased.
In our own case, the current kiln refractory has already completed around 1.5 years, which itself shows how much more we now rely on materials that can handle thermal shock, alkali attack and coating fluctuations. We have moved towards more stable, high-performance linings so that we don’t have to enter the kiln frequently for repairs.
Overall, the shift has been from just ‘installation and run’ to selecting refractories that give longer life, better coating behaviour and more predictable performance under tougher operating conditions.

What are the biggest refractory challenges in the preheater, calciner and cooler zones?
• Preheater: Coating instability, chloride/sulphur cycles and brick erosion.
• Calciner: AFR firing, thermal shock and alkali infiltration.
• Cooler: Severe abrasion, red-river formation and mechanical stress on linings.
Overall, the biggest challenge is maintaining lining stability under highly variable operating conditions.

How do you evaluate and select refractory partners for long-term performance?
In real plant conditions, we don’t select a refractory partner just by looking at price. First, we see their past performance in similar kilns and whether their material has actually survived our operating conditions. We also check how strong their technical support is during shutdowns, because installation quality matters as much as the material itself.
Another key point is how quickly they respond during breakdowns or hot spots. A good partner should be available on short notice. We also look at their failure analysis capability, whether they can explain why a lining failed and suggest improvements.
On top of this, we review the life they delivered in the last few campaigns, their supply reliability and their willingness to offer plant-specific custom solutions instead of generic grades. Only a partner who supports us throughout the life cycle, which includes selection, installation, monitoring and post-failure analysis, fits our long-term requirement.

Can you share a recent example where better refractory selection improved uptime or clinker quality?
Recently, we upgraded to a high-abrasion basic brick at the kiln outlet. Earlier we had frequent chipping and coating loss. With the new lining, thermal stability improved and the coating became much more stable. As a result, our shutdown interval increased and clinker quality remained more consistent. It had a direct impact on our uptime.

How is increased AFR use affecting refractory behaviour?
Increased AFR use is definitely putting more stress on the refractory. The biggest issue we see daily is the rise in chlorine, alkalis and volatiles, which directly attack the lining, especially in the calciner and kiln inlet. AFR firing is also not as stable as conventional fuel, so we face frequent temperature fluctuations, which cause more thermal shock and small cracks in the lining.
Another real problem is coating instability. Some days the coating builds too fast, other days it suddenly drops, and both conditions impact refractory life. We also notice more dust circulation and buildup inside the calciner whenever the AFR mix changes, which again increases erosion.
Because of these practical issues, we have started relying more on alkali-resistant, low-porosity and better thermal shock–resistant materials to handle the additional stress coming from AFR.

What role does digital monitoring or thermal profiling play in your refractory strategy?
Digital tools like kiln shell scanners, IR imaging and thermal profiling help us detect weakening areas much earlier. This reduces unplanned shutdowns, helps identify hotspots accurately and allows us to replace only the critical sections. Overall, our maintenance has shifted from reactive to predictive, improving lining life significantly.

How do you balance cost, durability and installation speed during refractory shutdowns?
We focus on three points:
• Material quality that suits our thermal profile and chemistry.
• Installation speed, in fast turnarounds, we prefer monolithic.
• Life-cycle cost—the cheapest material is not the most economical. We look at durability, future downtime and total cost of ownership.
This balance ensures reliable performance without unnecessary expenditure.

What refractory or pyro-processing innovations could transform Indian cement operations?
Some promising developments include:
• High-performance, low-porosity and nano-bonded refractories
• Precast modular linings to drastically reduce shutdown time
• AI-driven kiln thermal analytics
• Advanced coating management solutions
• More AFR-compatible refractory mixes

These innovations can significantly improve kiln stability, efficiency and maintenance planning across the industry.

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