Wonder Cement will develop grinding unit in Madhya Pradesh
India's cement sector growth witnessed a decline of almost 3 percentage points in last year due to various factors, including global sentiments and cash flow, an industry expert said on Thursday. The growth rate came down to 2 per cent during last year from a compound annual growth rate (CAGR) of 5-6 per cent in last five years, Wonder Cement MD Jagdish Chandra Toshniwal told reporters here. He said there are multiple factors including global sentiments and cash flow which led to the slowdown. He noted that while some sectors felt the immediate impact of demonetisation, the cement industry experienced it at a later stage. However, he expressed hope that efforts for the revival of the country's economy by the government will bring back growth in this sector, which is associated with construction and infrastructure development. He also said that 2020 is likely to be a volatile period for this sector. The demand for cement in India has gone up to 400 million tonnes (MT) from 30 MT four decades back.
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