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The Indian cement industry is on track to reach 5.09 billion tonnes by 2028-29, driven by robust government investment in infrastructure. According to an IANS report originally attributed to Infomerics Ratings, this marks a compound annual growth rate (CAGR) of 4.9 per cent between 2024 and 2029. In 2022-23, the industry’s market size stood at 3.82 billion tonnes, with a total installed capacity of 622 million tonnes per annum (MTPA) in FY24 and production at 427 million tonnes. Notably, India contributes over 8 per cent to the world’s total installed cement capacity, highlighting its importance in the global market. Despite this, India’s per capita cement consumption is 260 kg—significantly below the global average of 540 kg—indicating substantial room for growth. Globally, the cement market is projected to grow at a CAGR of 4.3 per cent from 2024 to 2032. The sector’s expansion is fuelled by ambitious government initiatives, including an allocation of ₹11.11 lakh crore for infrastructure in FY25 and housing schemes like Pradhan Mantri Awas Yojana. The construction sector consumes 55 per cent of cement production, while public infrastructure projects account for the remainder. The industry also plays a critical role in employment, providing direct jobs to over one million people and creating downstream opportunities for about 20,000 individuals per million tonnes of cement produced. Private players dominate the sector, controlling 98 per cent of production capacity, while public sector units hold a mere 2 per cent. Domestic production meets almost all demand, with imports accounting for just 0.2 per cent of total production in FY23. However, exports have declined recently due to reduced global demand and rising competition. India currently has 341 cement manufacturing facilities, including 159 integrated large cement plants, 120 grinding units, and 62 mini cement plants. Cement production has seen steady growth, with a 7.1 per cent increase in September 2024 and a cumulative growth of 1.6 per cent between April and September of FY25, according to the Ministry of Commerce and Industry. This growth aligns with India’s overall industrial performance, which saw a 2 per cent rise in core industries in September, led by cement, steel, coal, and fertilisers. As India invests heavily in infrastructure and housing, the cement industry is set to play a pivotal role in supporting the nation’s economic and developmental goals. (with IANS inputs)

India's cement industry expected to grow to 5.09 billion tonnes by 2028-29 amid infrastructure push: Report

<ul><li><keyword id="19912297" type="General" weightage="20" keywordseo="NVIDIA" source="keywords" meta.keywordsubtype="org" meta.entityname="NVIDIA" meta.hostid="261" meta.entityid="NVIDIA">NVIDIA</keyword> and <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> have partnered to build AI computing infrastructure.</li><li>NVIDIA will also supply the latest Blackwell AI chip for Reliance Industries’ new data centre.</li><li>The partnership was announced at the NVIDIA AI Summit India.</li></ul> <keyword id="16173150" type="General" weightage="20" keywordseo="NVIDIA-CEO-Jensen-Huang" source="Orion">NVIDIA CEO Jensen Huang</keyword> at the NVIDIA AI Summit India announced a partnership with Mukesh Ambani-led Reliance Industries to an artificial intelligence (AI) computing infrastructure and an innovation centre in India. As part of the partnership between the two companies, Reliance Industries will use the latest Nvidia Blackwell AI chip for its new major data centre. The company will use NVIDIA's cutting-edge technology, including the GB200 GPUs. The two companies are aiming to accelerate India's transformation into a global AI powerhouse with the partnership, banking on the nation's talent pool and growing digital infrastructure. "India is already world-class in designing chips, Nvidia's are designed here in Bengaluru, Hyderabad, Pune. A third of Nvidia is Indian, maybe more," Huang said. While praising the country’s rapid digitalisation in recent years and talking about the country’s potential in the AI sector, Huang said, “Very few countries have this amazing natural resource called IT and computer science expertise.” "We are at the doorsteps of the new intelligence age. India will be one of the biggest intelligence markets. It's not just our aspiration, but also the raw gene power which will help drive intelligence,” said Reliance Industries chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>. "India will not just deliver CEOs to world, but also AI services. Like we did with data, in few years from now we can surprise the world with what Indians can achieve in intelligence," Ambani added. Ambani revealed the company’s plans to establish a scalable infrastructure capable of expanding beyond 1 gigawatt, powered by green energy. "We are building this so we can scale, and we think big," he said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/deepak-builders-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114533208.cms">Deepak Builders IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/news/synology-introduces-new-enterprise-solutions-reports-significant-growth-in-india/articleshow/114504353.cms">Synology introduces new enterprise solutions, reports significant growth in India</a> <a href="https://www.businessinsider.in/tech/apps/news/diwali-gift-zomato-platform-fee-increased-to-rs-10-ahead-of-the-festive-season/articleshow/114493617.cms">Diwali gift from Zomato – Platform fee increased to ₹10 ahead of the festive season</a>

NVIDIA and Reliance Industries to build AI computing infrastructure in India

<keyword id="19902194" type="General" weightage="20" keywordseo="Anil-Ambani" source="keywords">Anil Ambani</keyword>'s <keyword id="20479923" type="General" weightage="100" keywordseo="Reliance-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Group" meta.hostid="261" meta.entityid="Reliance Group">Reliance Group</keyword> has launched the <keyword id="24017314" type="General" weightage="20" keywordseo="Reliance-Group-Corporate-Centre" source="keywords">Reliance Group Corporate Centre</keyword> (RGCC) as part of its <keyword id="24017313" type="General" weightage="20" keywordseo="2030-growth-strategy" source="keywords">2030 growth strategy</keyword>. "The RGCC will serve as a strategic hub, providing guidance to the Group's companies as they pursue new opportunities and technological advancements," the firm said in a statement. The core team of RGCC will include experienced leaders of the Group -- Sateesh Seth, Punit Garg, and K Raja Gopal. Garg currently leads as CEO of <keyword id="20144587" type="General" weightage="20" keywordseo="Reliance-Infrastructure" source="keywords">Reliance Infrastructure</keyword>, while K Raja Gopal has been at the helm of Reliance Power for six years. He has over 27 years experience in the power sector. Other leaders from the Group companies will also be invited to the RGCC. "The establishment of RGCC aims to harness the in-house expertise of these seasoned leaders to support the Group's forward-looking growth initiatives and cultivate a new generation of leadership for future project," the statement said. The RGCC will play a pivotal role in mentoring and developing emerging leaders, blending experience with fresh talent to propel the Group towards sustained growth. A Reliance Group spokesperson highlighted, "We are thrilled to introduce RGCC, a team of seasoned professionals with a broad spectrum expertise. This strategic move aims to steer the Group's future growth by tapping into the vast experience of these leaders, will help navigate industry challenges and capitalise on new opportunities, drive innovation, and deliver exceptional value to our customers and stakeholders. We believe RGCC will be instrumental in shaping the next phase of our Group's success." In recent developments, Reliance Infrastructure Ltd and Reliance Power Ltd, key entities under the Reliance Group, have achieved zero bank debt status and outlined plans for expansion into new growth areas. Reliance Power has secured 1,270 MW of renewable power projects in Bhutan, while Reliance Infrastructure, through its subsidiary Reliance Defence Ltd, is setting up a manufacturing facility for small arms, ammunition, and explosives in Ratnagiri, Maharashtra, spanning 1,000 acres. "To support these ambitious expansion plans, the companies have announced a combined fundraising effort of Rs 17,600 crore. This includes Rs 4,500 crore via preferential equity issues, Rs 7,100 crore from Varde Partners through equity-linked long-term FCCBs, and Rs 6,000 crore via Qualified Institutional Placement (QIP), with Reliance Power and Reliance Infrastructure each targeting Rs 3,000 crore," it added.

Anil Ambani's Reliance Group sets up centre to helm 2030 growth strategy

<ul class="summary-list"><li>America is ready to scale up its AI infrastructure.</li><li>The generative AI boom has put data center capacity and energy constraints into focus.</li></ul>America is stepping up plans to maintain an edge in the <a target="_blank" class="" href="https://www.businessinsider.com/companies-using-ai-bain-survey-roi-2024-6">generative AI race</a>.A key part of that strategy is making significant investments in domestic infrastructure — from data centers to chip production — so that it is less reliant on countries such as Taiwan, where tensions with neighboring China loom large.On Tuesday, <a target="_blank" href="https://news.microsoft.com/2024/09/17/blackrock-global-infrastructure-partners-microsoft-and-mgx-launch-new-ai-partnership-to-invest-in-data-centers-and-supporting-power-infrastructure/">Microsoft and BlackRock announced the creation of a $30 billion mega-fund</a> designed to "enhance American competitiveness in AI." Its backers have committed to driving the "significant infrastructure investment" needed to make AI more powerful.Critically, the firms behind the fund said these infrastructure investments "will be chiefly in the United States," where it plans to fuel AI innovation and economic growth.It means the fund — which involves the Global Infrastructure Partners unit BlackRock acquired in January and Abu Dhabi investment firm MGX — will "make investments in new and expanded data centers." It will also fund the energy infrastructure needed to power them.According to the fund's backers, other investments will be directed to "US partner countries." With debt financing, the fund's overall size could reach $100 billion. "The capital spending needed for AI infrastructure and the new energy to power it goes beyond what any single company or government can finance," said <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-brad-smith-tiktok-trump-washington-dc-2020-8">Microsoft president Brad Smith.</a><div type="image" title="microsoft brad smith" height="2426" width="3500" msid="113466371" hostid="261" sizebytes="243638"></div>If America is serious about leading on AI — something the next president will <a target="_blank" class="" href="https://www.businessinsider.com/china-xi-jinping-ai-wreak-havoc-america-world-economy-2024-6">inevitably contend with as China ramps up its efforts</a> — it has little choice but to future-proof the technology by building more critical infrastructure.Data centers, chip manufacturing plants, and energy supply are all vital for making AI tick. But each of these domains is subject to potential pitfalls — be it supply chain vulnerabilities or demand bottlenecks.The US got the ball rolling on supporting its self-sufficiency with semiconductors — the hardware developed by the likes of Nvidia to provide computing power for large language models — with the <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/09/fact-sheet-chips-and-science-act-will-lower-costs-create-jobs-strengthen-supply-chains-and-counter-china/">CHIPS Act, passed by Congress in 2022.</a>While <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-taiwan-tsmc-jensen-huang-china-disruption-2024-9">Nvidia</a> and other US tech firms have led the chip space by focusing on design, manufacturing has largely been outsourced to Taiwanese firm TSMC. Given rising fears over a <a target="_blank" class="" href="https://www.businessinsider.com/navy-seal-team-six-preparing-china-invasion-of-taiwan-report-2024-9">possible Chinese invasion of Taiwan</a>, there are concerns about supply chain security.<div type="image" title="Jensen Huang wih Nvidia hardware" height="2121" width="3000" msid="113466372" hostid="261" sizebytes="174302"></div>Not all is steady on the data center and energy front, either.A June report on global data center trends <a target="_blank" href="https://www.cbre.com/insights/reports/global-data-center-trends-2024">published by commercial real estate group CBRE</a> found that "worldwide power shortage is significantly inhibiting the global data center market's growth." Lack of growth has been a key problem in the US, where the AI boom has led to data center vacancy rates dropping everywhere from Chicago to Northern Virginia.That means data centers are in short supply, or, as the CBRE noted, "North American data center availability keeps tightening due to robust demand," leading parts of the country's tech industry to consider drastic measures. As the <a target="_blank" href="https://www.ft.com/content/d2bbcdc9-7282-43ea-84f7-250aab6a8a43">Financial Times reported last month</a>, some Big Tech firms and their suppliers have even considered turning decommissioned power stations into data centers.This supply shortage hasn't gone unnoticed in Washington. Last week, the <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/09/12/readout-of-white-house-roundtable-on-u-s-leadership-in-ai-infrastructure/">White House held a roundtable with top AI leaders</a> from around the country to "discuss steps to ensure the United States continues to lead the world in AI" by focusing on the data center and energy issue.With the likes of <a target="_blank" class="" href="https://www.businessinsider.com/jensen-huang-nvidia-routine-management-leadership-style-ceo-founder-2024-4">Nvidia's Jensen Huang</a> and <a target="_blank" class="" href="https://www.businessinsider.com/sam-altman-openai-raising-money-strawberry-after-rough-start-year-2024-9">OpenAI's Sam Altman</a> at the table, alongside top government officials such as Commerce Secretary Gina Raimondo, the discussion on American leadership in AI was tied to "national security, economic, and environmental goals."The headline result was the launch of a new task force on AI data center infrastructure, designed to underscore the vital importance of building out the infrastructure needed to maintain momentum in the generative AI race.This may all be better late than never for the US. While the <a target="_blank" class="" href="https://www.businessinsider.com/ai-return-investment-disappointing-goldman-sachs-report-2024-6">verdict is still out</a> on the potential for the current AI boom to generate returns in the long run, it's clear that AI will be a critical geopolitical issue for the US in the years ahead.More infrastructure on home soil will help the US have greater control over its own destiny.

America is ready to go big on AI infrastructure 

The Indian automotive landscape is evolving as consumers lean toward both luxury and sustainable options, according to <keyword id="20034170" type="General" weightage="20" keywordseo="Grant-Thornton-Bharat" source="keywords" meta.keywordsubtype="org" meta.entityname="Grant Thornton Bharat" meta.hostid="261" meta.entityid="Grant Thornton Bharat">Grant Thornton Bharat</keyword>’s survey, Shifting Gears: Understanding Passenger Vehicle Market Trends. The survey, gathering insights from over 3,500 respondents, found that 85% are interested in high-end variants, with a notable rise in preference for <keyword id="20372525" type="General" weightage="20" keywordseo="hybrid-vehicles" source="keywords">hybrid vehicles</keyword> over electric options. With 40% of respondents favouring hybrids and only 17% opting for EVs, the shift suggests a cautious approach as consumers await more robust <keyword id="20415012" type="General" weightage="20" keywordseo="EV-infrastructure" source="keywords">EV infrastructure</keyword> and incentives. Meanwhile, 34% still prefer petrol vehicles, indicating the ongoing transition in <keyword id="21046358" type="General" weightage="20" keywordseo="consumer-preferences" source="keywords">consumer preferences</keyword>. Hybrid vehicles, acting as a bridge, are likely to boost familiarity with green technology, paving the way for broader EV adoption in the future. According to Saket Mehra, Partner and Auto &amp; EV Industry Leader at Grant Thornton Bharat, automakers must focus on both hybrid and electric solutions to match changing demands. This year’s festive season—typically accounting for 30-40% of annual sales—is critical, yet high inventory levels, weather impacts, and regional elections have slowed growth. Utility (UV) and sports utility vehicles (SUVs) continue to dominate, now representing 65% of passenger vehicle sales with 13% growth year-over-year. Despite a slow start to FY25, the popularity of SUVs and UVs reflects a strong preference for versatile vehicles. Yet, automakers are grappling with inventory challenges, with 7.9 lakh units worth ₹79,000 crore in stock as of September 2024. To tap into festive demand, nearly 90% of consumers expect substantial discounts. The survey also highlights a shift in consumer priorities, with a heightened focus on <keyword id="20961985" type="General" weightage="20" keywordseo="vehicle-safety" source="keywords">vehicle safety</keyword> overtaking traditional factors like design or performance. Subscription models are also gaining traction, indicating a broader transformation in how Indians perceive mobility solutions.

Indian consumers shift gears toward luxury and sustainability in the auto sector: Survey

In FY25, Punjab is set to experience financial challenges as its capital-to-revenue expenditure ratio is the lowest among all states, standing at just 6.2%, highlighted a research report by the <keyword id="19938957" type="General" weightage="100" keywordseo="National-Stock-Exchange" source="keywords">National Stock Exchange</keyword> (NSE). This means that for every rupee Punjab spends, a very small portion is being allocated towards capital expenditure, which is crucial for long-term <keyword id="19971350" type="General" weightage="20" keywordseo="infrastructure-development" source="keywords">infrastructure development</keyword>. In contrast, the research showed that the states like Gujarat lead the way with a much higher ratio of 36.2%, signaling a stronger focus on capital spending that can drive future growth. "The capital-to-revenue expenditure ratio, a measure of expenditure quality, is set at 20.7 % for FY25BE, declining from 21.2 % in FY24RE. Punjab has the lowest ratio at 6.2 %, while Gujarat leads at 36.2 %" said the report. The report also highlighted that the overall, capital expenditure by Indian states is expected to moderate in FY25 after three years of strong growth. It stated that the total capital spending for the fiscal year is estimated to increase by just 6.5 % to Rs 6.5 lakh crore. This is a notable slowdown compared to the sharp 39.3 % rise in FY24, which was marked by a post-pandemic push to boost infrastructure and public projects. The capital-to-revenue expenditure ratio, a key indicator of the quality of spending, is also set to decline slightly to 20.7 %in FY25 from 21.2 %in FY24, reflecting a more cautious approach by states. At the same time, revenue expenditure, which covers recurring costs like salaries, subsidies, and interest payments, is expected to grow by 8.9 % to Rs 44.2 lakh crore. This is the slowest growth in the last four years, indicating tighter control over everyday spending. "<keyword id="23614983" type="General" weightage="20" keywordseo="committed-expenditure" source="keywords">Committed expenditure</keyword> (interest payments and pensions), on the other hand, remains high, comprising about 24 % of total revenue expenditure and consuming nearly a quarter of revenue receipts" the report added. Despite this, the report noted that a large portion of revenue expenditure remains committed to non-discretionary costs. Interest payments and pensions alone account for about 24 % of total revenue expenditure and consume nearly a quarter of the revenue receipts, limiting states' flexibility in spending. Some states are more burdened than others by this committed expenditure. Punjab, Kerala, Himachal Pradesh, and Tamil Nadu have earmarked over 35 %of their revenue receipts for these fixed costs in FY25, putting additional pressure on their finances. This leaves less room for discretionary spending and makes it harder for these states to invest in development and growth-oriented projects.

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India's cement industry expected to grow to 5.09 billion tonnes by 2028-29 amid infrastructure push: Report

BI India Bureau

NVIDIA and Reliance Industries to build AI computing infrastructure in India

Sourabh Jain

Anil Ambani's Reliance Group sets up centre to helm 2030 growth strategy

PTI

America is ready to go big on AI infrastructure

Hasan Chowdhury

Indian consumers shift gears toward luxury and sustainability in the auto sector: Survey

BI India Bureau

Punjab's capital expenditure lowest in FY25 at 6.2% vs highest of Gujarat at 36.2%: NSE

ANI

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