JK Lakshmi Cement has urged the government to reduce GST on cement from 28% to 18% in the upcoming Budget to boost consumption of this critical building material. Arun Shukla, President and Director of JK Lakshmi Cement, emphasized the need for policy measures to support cement-driven infrastructure growth at the ‘Bihar Business Connect 2024’ meet.
“Cement is a major driver of economic growth,” Shukla noted, highlighting its role in building world-class infrastructure. He also stressed the advantages of cement concrete roads, citing their cost-effectiveness and longevity over bitumen roads.
The company is investing Rs 5 billion in a manufacturing plant in Madhubani, Bihar, set to become operational within a year. Shukla lauded the Bihar government for its proactive support and fiscal incentives, describing the experience as “amazing.”
JK Lakshmi Cement, part of the JK Organisation, has set a target to expand its annual capacity from 18 million tonnes to 30 million tonnes by 2030. The company is on track to add 12 million tonnes across various geographies, addressing an anticipated 7-8% annual demand growth.
Additionally, the JK Organisation is exploring investments in sectors like tyre and paper manufacturing, aligning with its diversified growth strategy.
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