Economy & Market

Archaic laws impeding growth

Published

4 years ago

October 14, 2021

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The Russian economic model adopted by the India post its independence and outdated laws of the British colonial era are decelerating growth of the country’s economy, avers RP Gupta, Chairman cum Managing Director, Shiva Cements. We should come out of the syndrome of Russian economy model that we adopted after Independence. We must treat all productive assets as national assets, irrespective of ownership," said Gupta. In his book titled Turnaround India’, released by Narendra Modi, Chief Minister, Gujarat, Gupta stresses on the necessity of regaining nine per cent economic growth for removing poverty, creating jobs and setting right the macro economic parameters. Blaming domestic reasons for the current reversal in growth, the book recommends simplifying legal frame work which is influenced by old British colonial rule. On tackling inflation, Gupta says it cannot be controlled by monetary tools alone. Economic efficiency of the country has to be improved as this will help remove supply constraints and reduce cost at consumers’ level. Economic efficiency does not depend upon producers alone; rather it depends upon the whole gambit of policy, regulations and economic environment. Improvement of efficiency will also help reducing trade deficit and strengthening rupee value. he adds.

Concrete

Shree Cement reports 2025 financial year results

Published

5 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

5 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

5 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/