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In the realm of <keyword id="6378916" type="General" weightage="90" keywordseo="cement" source="Orion">cement</keyword> production, China and India are navigating diverging market currents, shaped by distinct economic landscapes. <keyword id="125045" type="General" weightage="50" keywordseo="fitch-ratings" source="Orion">Fitch Ratings</keyword>' insights reveal a challenging outlook for <keyword id="19792359" type="General" weightage="80" keywordseo="chinese-cement" source="Orion">Chinese cement</keyword> demand in 2024, driven by ongoing distress in the property sector. Meanwhile, India's <keyword id="34556" type="General" weightage="60" keywordseo="cement-industry" source="Orion">cement industry</keyword> charts a more optimistic course, with steady demand growth projected over the medium term. The Chinese property sector's persistent challenges and a projected slowdown in infrastructure investment contribute to weakened cement demand in 2024. Strained financing conditions for local governments, coupled with a decline in land sales, hamper their capacity to bolster spending on crucial infrastructure projects. Despite these hurdles, Fitch notes a potential stabilization of producers' margins in the face of adversity. The gross profit of China's top five cement producers witnessed a 3% decline in 3Q23, marking a notable slowdown from the sharper contractions observed in previous quarters. Anticipating a reduction in capacity, Fitch foresees smaller, less profitable producers exiting the market in 2024. Government policies on capacity control and sector decarbonisation are expected to contribute to a medium-term reduction in overall capacity. Contrasting China, India's <keyword id="82914" type="General" weightage="20" keywordseo="cement-sector" source="Orion">cement sector</keyword> foresees a robust trajectory driven by the nation's steady GDP expansion. Fitch predicts an annual growth rate of 6 per cent-8 per cent in cement demand over the coming years. Infrastructure and affordable housing projects, fuelled by government spending, are expected to spearhead this growth, with additional impetus from the ongoing recovery in urban housing throughout 2024. While India anticipates a doubling of annual cement capacity additions in the next five years, the industry's robust demand growth will help maintain healthy capacity utilization. Fitch notes that the top five Indian producers will spearhead new capacities, with further mergers and acquisitions on the horizon. Despite this positive outlook, the industry's focus on market share retention amid capacity expansions is likely to temper the potential widening of profit margins, even with energy prices normalizing post-2022.

China's cement sector faces headwinds, while India sees steady growth: Fitch Ratings

<ul><li>Rise in investments in residential real estate coincides with a rise in the aggregate <keyword id="16695918" type="General" weightage="20" keywordseo="disposable-income-of-households" source="Orion">disposable income of households</keyword>, says a report by ICICI Securities.</li><li>For every square foot that’s built, the realty sector helps generate income anywhere between ₹2,000-6,000, depending on the type of building.</li><li>The average income of a construction worker in rural India as per the Labour Bureau statistics is around ₹500-600 per day while for those in the urban areas it is usually higher.</li></ul>There is a direct correlation between growing household incomes and a vibrant <keyword id="6543013" type="General" weightage="20" keywordseo="real-estate-sector" source="Orion">real estate sector</keyword>. The signs of recovery in the real estate industry are expected to support aggregate <keyword id="386349" type="General" weightage="20" keywordseo="household-income" source="Orion">household income</keyword> considering it is the second-largest employer in India after <keyword id="6355165" type="General" weightage="20" keywordseo="agriculture" source="Orion">agriculture</keyword>, says a report by ICICI Securities. The sector generates a variety of jobs including for construction workers and other informal jobs for masons, plumbers, concrete workers, electricians, carpenters, painters, drivers, helpers, loaders, etc. For every square foot that’s built, it helps generate income anywhere between ₹2,000-6,000, depending on the type of building — ranging from basic to high-rise luxury skyscrapers. “Incremental value additions done to the builder-finished construction by end-users can go up to several thousand rupees per square foot depending upon the taste and capability of the end-user,” ICICI Securities says. <div type="image" title="Real estate report 2" msid="98390920" hostid="261" sizebytes="52976"></div> How much does construction pay? The <keyword id="6462448" type="General" weightage="20" keywordseo="construction-sector" source="Orion">construction sector</keyword> is also a better paymaster than agriculture, the report adds. The average income of a construction worker in rural India as per the Labour Bureau statistics is around ₹500-600 per day. In urban areas, it gets higher. “Anecdotal evidence for larger cities indicates the wages are at least 30-40% higher for construction workers with higher skills and experience,” the report says. Another group of professions to benefit from real estate development are mortgage lenders, material suppliers, contractors, architects, designers, engineers, lawyers, real estate brokers, etc. In addition, allied sectors involved in labour-intensive manufacturing activity in the unorganised segment — such as furniture, ceramics, glassware, lightings and other decorative products – also benefit from an upcycle in real estate. Large-scale organised manufacturing like cement, steel, ceramics, plywood, paints, adhesives, etc are also beneficiaries. “Household real estate investment cycle is rising after a decade of stagnation during which its share in gross fixed capital formation (GFCF) dipped from 37% in FY12 to 25% in 2021. The cyclical recovery in residential real estate will boost income growth of related stakeholders mentioned above. Workers involved in the leisure segment, which again is dominated by the unorganised segment, are also likely to see buoyant income growth,” said the report. However, the report mentions that agriculture wages remain a key risk to aggregate income growth, given its large weight within the aggregate workforce. And the prospects of it will depend on how monsoon and agriculture output pans out in FY24. <div type="image" title="real 3" msid="98390948" hostid="261" sizebytes="48628"></div> Wage bills to rise all across ICICI Securities also says that the aggregate wage bill of the private corporate sector has been expanding more than the nominal GDP growth over the past decade. “The trend is likely to continue in FY24 going by recent salary surveys and hiring trends in the formal segment although IT services, with its large weight, is expected to lag,” the report said. According to a survey by Aon, salaries in India are expected to go up by 10.3% in 2023, in spite of concerns around economic volatility. This could be in response to a high attrition rate of 21.4% in 2022. In 2022, the actual salary increase was slightly higher at 10.6%. The projected salary increase for India is the highest among major world economies like China, US and UK, Aon said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-rally-after-it-sells-stake-to-gqg-partners/articleshow/98384846.cms">Adani group stocks rally post GQG deal: group marketcap surges by ₹73,000 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tractors-commercial-vehicles-drive-auto-sales-in-february-but-el-nio-threat-looms-large/articleshow/98386451.cms">Tractors &amp; commercial vehicles drive auto sales in February but El Niño threat looms large</a>

Recovery in real estate sector likely to boost household income, says ICICI Securities

<ul><li>On a YoY basis, June 2023 core sector growth was lower as the reading was 13.1% in 2022.</li><li>Growth was positive in seven sectors with the exception of crude oil which declined marginally.</li><li>Electricity and fertilizer production slowed due to a sharp base effect. </li></ul>The growth of India's eight key infrastructure sectors slowed down to 8.2% in June 2023 as compared to a year-ago period but managed to hit a five-month high. The reading saw a decline in the production of crude oil, natural gas, and electricity, according to the official data released on Monday. The core sector growth was 13.1% in June 2022. In January, the key sectors expanded at 9.7% while in May 2023 the growth rate was 5%. The output growth of the eight sectors slowed down to 5.8% in April-July 2023-24 against 13.9% in the year-ago period. ‘Growth is broad-based’ Growth has been broad-based thus reflecting buoyancy in the infrastructure sector this year, opined Madan Sabnavis, chief economist at Bank of Baroda. With the exception of crude oil which declined marginally, growth was positive in the other seven sectors. Refinery products grew by 4.6% compared with 15.1%, mostly due to slowdown in exports. Domestic demand for refinery products like petrol and diesel has been steady. Coal continues to grow well at 9.8%, thanks to a recovery in electricity growth as well as the steel sector. Steel witnessed growth of 21.9% while cement registered 9.4% growth. “The government push in infra has been reflected here, especially roads. Cumulative growth in these two sectors was double digits in the three months even on a higher base witnessed in 2022,” Sabnavis said. Electricity growth slowed to 3.3% over 16.5% last year – due to an impact of the base effect. Fertilizer production growth has slowed down to 3.4% over 8.2%, again due to a sharp base effect. Bank of Baroda expects growth to be lower in coming months as farmers start sowing for kharif season normally in June and July after which demand slows down. “Overall growth in IIP could be expected to be in the 5-6% range this month (July),” said Sabnavis. (With PTI inputs)

June IIP: Core sector growth at five-month high of 8.2%

New Delhi, <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> has been witnessing a 'V-shaped' recovery since June with the gradual easing of <keyword id="6413318" type="UNKNOWN" weightage="20" keywordseo="Restrictions">restrictions</keyword> on economic activities, said a <keyword id="47209" type="COMPANY" weightage="20" keywordseo="Finance-Ministry">Finance Ministry</keyword> report. "The sustained improvement in high frequency indicators ignite optimism of an improved performance in second half of the year," it said. The Monthly Economic Recovery for December by the <keyword id="144110" type="COMPANY" weightage="20" keywordseo="Department-of-Economic-Affairs">Department of Economic Affairs</keyword> (DEA) also noted that the impending vaccination is set to spur the momentum in economic activity globally. "The effective management of Covid-19 spread despite the festive season and onset of winter season, combined with sustained improvement in high frequency indicators and V-shaped recovery along with easing of lockdown restrictions distinguish Indian economy as one riding against the Covid-wave," it said. The agricultural sector remains the bright spot of Indian economy, with healthy year-on-year growth of 2.9% in rabi sowing, accelerating <keyword id="138831" type="PERSON" weightage="20" keywordseo="tractor-sales">tractor sales</keyword>, and reservoirs' live storage at 122% of decadal average. As per the DEA report, rise in minimum support prices accompanied by record procurement, and accelerated wage employment generation through MGNREGS, bodes well for rural incomes and bears testimony to PMGKY's success in alleviating rural distress. "This rise in rural incomes is mirrored in the healthy, though moderated, sales in passenger vehicles, two and three wheelers and tractor, and a rebound in vehicle registrations for the first time after March 2020," it added. Further, the industrial production growth ran parallel to the festive fervour of October and rose to an eight-month high, led by manufacturing and <keyword id="1207963" type="PERSON" weightage="20" keywordseo="electricity-sector">electricity sector</keyword>. The core industries registered slight decline in November driven by natural gas and cement, while coal production, electricity and fertilizers' production registered growth. SEE ALSO: <a href="https://www.businessinsider.in/india/news/tatas-got-airasia-stake-at-a-20-discount-while-indigo-and-spicejets-value-has-doubled-since-pandemic-broke-out/articleshow/80101467.cms">Tatas got AirAsia stake at a 20% discount while IndiGo and SpiceJet’s value has doubled since pandemic broke out</a> <a href="https://www.businessinsider.in/india/news/bharat-biotech-sees-rivals-conspiracy-in-all-the-criticism-for-the-approval-for-covaxin/articleshow/80099818.cms">Bharat Biotech sees rivals’ conspiracy in all the criticism for the approval for Covaxin</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-mi-10i-mobile-with-108mp-primary-camera-snapdragon-750g-launched-in-india-starting-at-20999/articleshow/80111586.cms">Xiaomi Mi 10i with 108MP primary camera, Snapdragon 750G launched in India starting at ₹20,999</a>

India's V-shaped recovery since June has been led by the agricultural sector, claims government

<ul><li>The number of <keyword id="6358354" type="General" weightage="100" keywordseo="msme" source="Orion">MSME</keyword>s have gone down in 2021-22 compared to 2020-21 because a number of MSMEs have grown bigger and crossed the MSME threshold. </li><li>MSMEs across all sectors have shown strong resilience to bounce back post the pandemic-induced slowdown. </li><li>The <keyword id="4656676" type="General" weightage="80" keywordseo="udyam" source="Orion">Udyam</keyword> portal and the Emergency Credit Line Guarantee Scheme have helped MSMEs to weather the storm. </li></ul>The micro, small and medium enterprises (MSME) sector is charting a new story post pandemic, with credit growth to MSMEs consistently higher – both on a year-on-year basis and also in comparison with larger industries, according to SBI Research. Incentives provided by the Emergency Credit Line Guarantee Scheme (ECLGS), coupled with lower gross non-performing asset (GNPA) ratios have helped in boosting credit to MSMEs, the SBI Research report said. Interestingly, the number of MSMEs have gone down in 2021-22 compared to 2020-21 because a number of MSME units have grown bigger and crossed the ₹250 crore turnover threshold that defines an MSME unit under the new definition, enforced in 2020. A company bigger than ₹250 crore is considered a mid-sized corporate firm. MSMEs have shown strong resilience to bounce back from the pandemic- induced slowdown seen in 2020. In some sectors that were not affected by the pandemic – like hospitality, construction, NBFCs, power, metals and so on, the credit outstanding as of March 2022 was almost 3x that seen in March 2018. There were sectors that were affected but have recovered from the pandemic – like edible oil, printing, consumer durables, pharmaceuticals, jute, aviation, etc, – with credit expansion for some of these in March 2021 lower than the March 2018 levels, but these have staged a smart recovery in March 2022, the report said. Some industries like mining, petrochemicals, cement, FMCG and others were deeply impacted by the pandemic but have almost recovered. A couple of initiatives from the Government of India may have helped MSMEs weather the storm and chart a strong growth story, according to SBI Research. Udyam portal: Turning informal micro enterprises formal In July 2020, the Government of India launched <keyword id="15931646" type="General" weightage="50" keywordseo="udyam-assist-platform" source="Orion">Udyam Assist Platform</keyword> (UAP) to bring all the Informal Micro Enterprises (IMEs) – which constitute around 99% of the MSMEs in the country – into the formal ambit without complex and complicated paperwork. The UAP will enable IMEs who aren’t registered under GST to get a registration certificate based on information with Banks/NBFCs. The Udyam registration may also help MSMEs in availing the benefits of multiple schemes of the <keyword id="5713874" type="General" weightage="50" keywordseo="ministry-of-msmes" source="Orion">ministry of MSMEs</keyword> such as Credit Guarantee Scheme, Public Procurement Policy, additional edge in government tenders and protection against delayed payments by corporates, etc. The IMEs will also become eligible for priority-sector lending by banks, be able to get collateral-free loans from banks and also be able to get licences, approvals and registrations easily. ECLGS: A saviour during pandemic The ECLG scheme acted as an enabler and helped MSMEs navigate the pandemic better. While at least 14.6 lakh MSMEs accounts were saved due to the ECLG scheme in absolute terms, MSME loan accounts worth ₹2.2 lakh crore improved since the inception of the ECLG scheme for the entire banking industry, as per SBI Research. This means that around 12% of the outstanding MSME credit has been saved from slipping into non-performing assets (NPAs) because of the ECLG scheme. Of the 14.6 lakh MSMEs accounts that were saved due to the ECLG scheme, almost 93.8% were in the <keyword id="16232960" type="General" weightage="50" keywordseo="micro-and-small" source="Orion">Micro and Small</keyword> category. If such units slipped into NPA, 1.65 crore workers would have become unemployed.

MSME sector is on a strong growth trajectory post the pandemic: SBI Research

<ul><li><keyword id="6368072" type="General" weightage="20" keywordseo="real-estate-developers" source="Orion">Real estate developers</keyword> are worried that increasing raw material costs could hurt investor sentiment and bring a pause to the strong growth in <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword>.</li><li>Raw materials required for construction have also been rising with inflation, further hurting customer purchasing power.</li><li>The industry expects to make concentrated efforts to reduce the spike in prices of raw materials such as cement, bricks, steel, etc, which would also give some relief to the sector.</li></ul>Indian central bank’s second round of hike in <keyword id="6371181" type="General" weightage="20" keywordseo="interest-rates" source="Orion">interest rates</keyword> could ruin the belated recovery in the real estate sector which has been reeling under the impact of Covid-19, despite <keyword id="6354730" type="General" weightage="20" keywordseo="home-loan" source="Orion">home loan</keyword> interest rates being at an all-time low until recently. In the last one month, the Reserve Bank of India has hiked the repo rate by 90 basis points, and most banks have <a href="https://www.businessinsider.in/finance/news/home-loan-rates-enter-red-zone-will-dent-affordable-and-mid-segment-sales-the-most/articleshow/92079341.cms">already moved</a> to reflect this in their repo-linked home loan rates. Analysts believe that home buyers should brace for an increase in EMIs throughout this year, as if inflation was not enough of a problem as it is. “We expect existing and new home borrowers to brace for an increase in home loan rates throughout the year and plan their financials accordingly,” said Kalpesh Dave, head corporate planning &amp; strategy, Star Housing Finance. However, it’s not just homebuyers who will be impacted by the rise in borrowing costs. Even real estate developers will face the heat of the moment, say analysts. Adding to it, for them it could directly impact the sales of residential homes as customers would stay away for a while due to the rise in costs. Also, not to forget all the raw materials required for construction have been rising with the inflation, further hurting customer purchasing power. “A rise in inflation can soften the stance on an otherwise robust real estate industry. Already raw material prices are increasing and an unbridled rate of inflation will further drive the input costs northwards, therefore resulting in cost overruns for the developer fraternity,” said Suren Goyal, partner at RPS Group, real estate developer. “In such a case they will have no option but to pass on the price to the homebuyers,” he further added. The move would impact already strong demand and liquidity After a lull due to Covid, the demand to buy a house had recovered due to the growing need for home ownership and de-escalation of the covid crisis. “The current rise in repo rate might dent an otherwise upbeat bullish demand. Meanwhile, an increase in lending rates might plague growth in the affordable segment, which is very closely linked to the credit market,” said Nakul Mathur, MD at Avanta India. “From a real estate perspective, this hike in the policy rate comes as a hurdle as home loan rates will increase, putting a dent on the homebuyer's sentiments. Any increase in the interest rate will further impact the costs of doing business and hence the move will hurt business sentiment too as the economy is still recovering from the pandemic,” said Ramani Sastri, chairman &amp; managing director at Sterling Developers. RBI and finance ministry expected to intervene at some point However, in the long run, to keep the momentum going, the industry expects RBI and the finance ministry to take steps to keep the liquidity growth in the market. “The banking and other financing institutions should play a pivotal role in ensuring a smooth flow of liquidity to the people,” said Subhash Goel, managing director at Goel Ganga Developments. However, the RBI did provide some respite to the space by announcing measures like doubling the amount of loan cooperative banks can issue for housing to improve credit flow to the sector. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/personal-finance/news/here-why-its-best-to-stay-away-from-these-loans-then-fall-into-debt-trap/articleshow/92104711.cms">Here why it’s best to stay away from these loans then fall into debt trap</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/india/news/coal-india-will-import-coal-for-the-first-time-as-power-crisis-threatens-to-worsen/articleshow/92103298.cms">Coal India will import coal for the first time as power crisis threatens to worsen</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/war-and-floods-take-the-bite-out-of-kfc-australia-after-a-chicken-shortage-it-is-now-facing-a-lettuce-crisis/articleshow/92102421.cms">War and floods take the bite out of KFC Australia – after a chicken shortage, it is now facing a lettuce crisis</a>

Indian central bank’s rate hikes leaves the real estate sector jittery

<ul><li>The lockdown affected the <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> market, with constructions across the country coming to a complete standstill in the initial days. </li><li>However, with the country slowly opening up now, business is also slowly coming back.</li><li><keyword id="9497924" type="PERSON" weightage="20" keywordseo="pushp-raj-singh">Pushp Raj Singh</keyword>, President Marketing, <keyword id="193491" type="CITY" weightage="20" keywordseo="JK-Cement">JK Cement</keyword> Ltd. (Grey <keyword id="6378916" type="UNKNOWN" weightage="20" keywordseo="cement">Cement</keyword> Business) shares how the brand survived the lockdown days and how it made sure all its stakeholders were safe and taken care of.</li><li>He also tells us the growing relevance of digital for marketers like him to reach out to their target audience.</li></ul>As the government announced the country-wide lockdown in March this year, to contain the spread of Covid-19, construction work across the country came to a complete standstill. Supply chain systems were disrupted due to movement restrictions between districts and states. Moreover, over the past few months we have been watching migrant workers struggling to go back home. Most of the construction work is carried out by migrant labourers so even when the country is slowly unlocking, there is a shortage of workers in the sector. However, there are early signs of recovery, as pointed out by Pushp Raj Singh, President Marketing, JK Cement Ltd. (Grey Cement Business). He shared with us that construction activities have slowly started and the brand is witnessing good demand from rural areas. While the urban demand and projects are still subdued, there is hope that things will improve considerably in the next few months. Singh also talks to us about how the brand came up with strategies to keep its employees motivated during these adverse times when there was hardly any business. Excerpts: Q) Since the lockdown led to a complete halt in construction projects, what kind of business impact have you faced since the lockdown started? There has been a slowdown in the businesses all across. Supply chain system came to a standstill due to inter-district and interstate movement restrictions. Moreover, the movement of migrant laborers is a major concern from long-term business recovery point of view. It is also a reason the construction activities in urban and city markets have still not fully recovered even after the unlock process has started. However, at a time of uncertain socio-economic conditions, we have been working on cost optimization by taking some healthy measures such as going paperless. At the same time, we also ensured that the morale of our employees remains high. We connected with our on-ground teams regularly through the online medium. Rather, we went one step ahead by making new employees join through e-joining. Q) Have things now started coming back to normal in terms of business? What is your recovery strategy? The lockdown period was definitely difficult for us. However with Unlock 1.0 announced by the government, construction activities have started and we’ve witnessed a good demand from rural areas. The urban demand and the projects continue to remain subdued, which we hope will improve considerably in the coming months. With the easing of the lockdown restrictions, the transport sector is also improving, and we hope that we are able to see a boost in our business in the upcoming months. Going forward, once the government push comes into effect and we see major activities in infrastructure, road projects, housing for the under-privileged (Pradhan Mantri Gramin Awaas Yojana), the consumption is expected to further go up. Seeing the impact of the pandemic, we took some important decisions to make certain changes, both concerning our business and for our employees. It has been a learning experience for us and the journey of learning continues. Now, as the unlock process has started, we have been ensuring that our ground force team is taking all the necessary precautions while going to the market. Q) How did you communicate with your consumers during the lockdown? What were the mediums that you used the most? Today’s customers and clients look for an understanding of what a brand stands for. The only way to accomplish this is with a strategic and consistent representation of the brand in every channel. Having a positive impression in the minds of our target audience and businesses translates directly into stronger brand equity. To begin with, we already had a media mix consisting of, OOH, print media, electronic media, etc. However, with the lockdown, our efforts became more focused on digital media strategies. We have also focused our efforts greatly on rural marketing and identified the strategies that work well with the target audience. We launched the #YehPuccaHai campaign to communicate with our audiences during the lockdown period, keeping our rural audiences also in mind. The message behind the campaign was to showcase how JK Super Cement as a brand always stands for building safe structures with a solid foundation. Additionally, we also wanted to portray the toil of our construction workers who work day and night to ensure that we live in safe homes. With this campaign, we wanted to highlight the social and emotional quotient associated with laborers. Construction workers are the ones who are at the base of any construction cycle and often their work is not given the credit that it deserves. Workers are one of the major pillars of a safe nation and it is only their hardwork that ensures that all of us can live comfortably. This campaign highlights the strength and determination of these construction workers who are devoted to their work. Q) Did you primarily depend on the digital medium, and increase your spends than otherwise? Do you plan to stick to this strategy even after the lockdown? We did rely on the digital medium as our marketing strategy primarily. Brands are keeping digital at the centre of their marketing strategy during the <keyword id="8764728" type="UNKNOWN" weightage="20" keywordseo="covid-19">COVID 19</keyword> era and have opened themselves to a host of platforms, tools, and communication channels. The new normal of marketing would include brands having wider reach across digital mediums and stronger targeting. Today, brands are mastering working on numerous platforms from messaging apps, social media sites, advertisement to search engine tools, influencer marketing and so on. Among marketers, apart from the traditional ATL and OOH <keyword id="852798" type="PERSON" weightage="20" keywordseo="marketing-strategies">marketing strategies</keyword>, digital marketing strategies such as digital promotion, conferences and campaigns are significantly rising. Hence, in the current scenario as well as post Covid-19, digital marketing will emerge as a strong contender amongst marketing strategies. Q) As a leader, what have some of your key learnings been? With the lockdown affecting our business, we made a COVID-19 response playbook ready for our stakeholders talking about our action plan ahead. We provided our employees with adequate PPE kits, sanitisers, monitoring mechanisms etc to ensure their safety. Hence, this lockdown period was a good learning experience for all of us. We were also constantly in touch with our on-ground teams on a weekly/ bi-weekly basis. As a company, we always take the best care of our people first. Employees are the bedrock for any company and this is a virtue that we firmly believe in. We have also launched a campaign for our #SuperDrivers who drive miles to ensure that our raw materials are transported all across the country. Often, their efforts are not recognized in the mainstream discussion, however they are a valuable asset for all of us and contribute greatly to our nation’s development. With the huge success of the #YehPuccaHai campaign, we also learned the importance of leveraging digital medium. Q) What is your vision for the brand? What do you want to stand for in the future as JK Super Cement? JK Super Cement as a brand strives to take care of the people at the bottom of the ladder. The company’s core value of keeping ‘people first’ makes us a promising brand. Our aim is to be the most preferred brand by the consumers for building safe and strong structures for generations to come, which is closely connected to the brand slogan ‘JK Super Cement – Build Safe!’

JK Cement is seeing good demand from rural areas as country is opening up: Pushp Raj Singh

<ul class="summary-list"><li>The COVID-19 economic crisis' "signature characteristic" is how uneven it is, <keyword id="5554559" type="PERSON" weightage="60" keywordseo="raphael-bostic">Raphael Bostic</keyword> said.</li><li>An "inclusive <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> is not a zero-sum proposition" and must be pursued, the <keyword id="45672" type="ORGANIZATION" weightage="60" keywordseo="Fed">Fed</keyword> president added.</li><li>The focus must now be on driving the recovery, and debt worries can come later, Bostic said.</li></ul>The unevenness of the coronavirus' economic impact on minorities and low-income workers is "the signature characteristic" of the pandemic and its fallout, Raphael Bostic, president of the <keyword id="164867" type="ORGANIZATION" weightage="60" keywordseo="Federal-Reserve-Bank-of-Atlanta">Federal Reserve Bank of Atlanta</keyword>, said on Thursday.While the economy has made strides toward a full recovery in recent months, the upswing hasn't been shared across communities. Unemployment rates for minorities remain elevated compared to those for white Americans; the labor force participation rate is far lower for women than men; and the racial wealth cap <a href="https://www.businessinsider.com/charts-how-much-wealth-each-race-ethnicity-held-2020-2021-3">remains extremely wide</a> even after the passage of several stimulus packages.The disparities make up what's come to be known as the <a href="https://www.businessinsider.com/what-is-a-k-shaped-recovery-coronavirus-pandemic">K-shaped recovery</a>, with the letter depicting the split in how differently Americans are experiencing the recovery. Gaps emerged along the lines of industry sectors, wage levels, gender, and race; acknowledging the <a href="https://www.businessinsider.com/k-shaped-recovery-recession-worse-for-bottom-better-for-top-2020-11">uneven damage</a> endured by certain groups can pave the way for a more equitable economy, Bostic said in a virtual seminar with the Economic Club of New York."We must cement the notion that an inclusive economy is not a zero-sum proposition," he said. "Pandemic stresses clarified inequality in our society in ways that opened conversations about historical barriers to opportunity."The Fed's updated policy framework aims to bring about that more inclusive economy. The central bank previously targeted full employment as half of its dual mandate, with the goal defined by a low unemployment rate. Yet that goal still left millions detached from the labor force or holding on by a thread, Bostic said.The new target of maximum employment sounds similar but pushes for a far tighter labor market. Fed officials have said they're looking to alternative indicators including wage growth and the labor force participation rate for different demographics to judge whether the labor market is equitable and inclusive.Pursuing maximum employment would also lift potential output and leave the country in a stronger economic position than that seen before the pandemic, Bostic said."Ultimately, for all our sake, the nation must reach a place where opportunity is not so tightly linked to race, a place where kids are not consigned to a life of struggle mainly because of the color of their skin," he added.<h2>Pay for the recovery now. The federal debt can wait.</h2>In addressing the broader path of the economy, Bostic noted that stimulus and ultra-easy monetary conditions should stay in place until the country is clearly on a path to pre-pandemic strength. Congress has spent an unprecedented amount on fiscal stimulus, but fear around the national debt shouldn't overshadow how much progress still needs to be made, the Fed president said."If you're going to err in this space, then err on the upside," Bostic said of additional stimulus. "We're going to have to figure out how to pay for it. My hope is that, if we have done the relief effectively, then the economy will recover fast and that growth will pay for some of that."The comments echo those made just hours earlier by <keyword id="6355253" type="UNKNOWN" weightage="60" keywordseo="federal-reserve">Federal Reserve</keyword> Chair Jerome Powell on NPR. While the path of the national debt is unsustainable, the central bank chief said, low rates ensure that the current shortfall <a href="https://www.businessinsider.com/economic-recovery-priority-federal-debt-concerns-federal-reserve-jerome-powell-2021-3">is manageable through the recovery</a>.There will be a time once the economy recovers that spending and taxation will need to create a more sustainable path, but "that time is not now," Powell added.

The pandemic exposed and worsened inequality, Atlanta Fed president says

As economic activities gain momentum, <keyword id="2385401" type="General" weightage="20" keywordseo="industry-players" source="Orion">industry players</keyword> are turning optimistic about the performance of the <keyword id="6395867" type="General" weightage="20" keywordseo="manufacturing-sector" source="Orion">manufacturing sector</keyword>. The <keyword id="12077865" type="General" weightage="20" keywordseo="FICCI-Manufacturing-Survey" source="Orion">FICCI Manufacturing Survey</keyword> for July-September showed that after experiencing subdued Q1 (April-June 2021-22), the <keyword id="23268" type="General" weightage="20" keywordseo="Outlook" source="Orion">outlook</keyword> seems to have improved significantly in Q2. The percentage of respondents reporting higher production in second quarter of 2021-22 was much above the 50 per cent mark -- around 61 per cent. This was significantly higher than the similar percentage of last year's Q2 quarter (around 24 per cent). A <keyword id="6355001" type="General" weightage="20" keywordseo="FICCI" source="Orion">FICCI</keyword> statement also said that the assessment is also reflective in order books as 72 per cent of the respondents in July-September 2021-22 expected a higher number of orders in comparison to April-June 2021-22. However, the survey revealed that a high percentage of respondents are experiencing rising costs of doing business and production. The cost of production as a percentage of sales for manufacturers in the survey has increased for 80 per cent respondents in Q1 2021-22. This is considerably higher than that reported in Q4 2020-21, where 72 per cent respondents recorded an increase in their production costs. "Industry respondents have attributed the hike in productions costs primarily to high fixed costs, higher overhead costs for ensuring safety protocols, drastic reduction in volumes due to lockdown, lower capacity utilisation, high freight charges and other logistic costs, increased cost of raw materials, power cost and high interest rates," the statement said. The latest quarterly survey assessed the sentiments of manufacturers for Q2 (July-September 2021-22) for eleven major sectors namely automotive, capital goods, cement and ceramics, chemicals, fertilizers and pharmaceuticals, electronics and electricals, metal and metal products, paper products, textiles, textiles machinery, toys and miscellaneous. Responses have been drawn from over 300 manufacturing units from both large and SME segments with a combined annual turnover of over 2.7 lakh crore. The survey showed that the overall capacity utilisation in manufacturing was 72 per cent in Q2 2021-22, which again reflects signs of recovery in manufacturing. The future investment outlook, however, remains that of cautious optimism, as 32 per cent respondents reported plans for capacity additions for the next six months. It also noted that the cost of doing business remains a cause for concern for the sector. High raw material prices, high cost of finance, uncertainty of demand, shortage of skilled labour and working capital, high logistics cost, low domestic and global demand, excess capacities due to high volume of cheap imports into India, unstable market, high power tariff, are some of the major constraints which are affecting expansion plans of the respondents, it said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/motorcycle-engine-vibrations-can-degrade-iphone-camera-performance/articleshow/86134711.cms">Motorcycle engine vibrations can 'degrade' iPhone camera performance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/perseverances-rock-sample-to-give-insight-into-mars-history/articleshow/86136571.cms">NASA Perseverance's rock sample to give insight into Mars' history</a>

You Searched For "cement sector recovery" and got 9 results

China's cement sector faces headwinds, while India sees steady growth: Fitch Ratings

ANI

Recovery in real estate sector likely to boost household income, says ICICI Securities

Bhakti Makwana

June IIP: Core sector growth at five-month high of 8.2%

BI India Bureau

India's V-shaped recovery since June has been led by the agricultural sector, claims government

IANS

MSME sector is on a strong growth trajectory post the pandemic: SBI Research

Anagh Pal

Indian central bank’s rate hikes leaves the real estate sector jittery

Bhakti Makwana

JK Cement is seeing good demand from rural areas as country is opening up: Pushp Raj Singh

Samarpita Banerjee

The pandemic exposed and worsened inequality, Atlanta Fed president says

Ben Winck

Outlook for manufacturing sector improves in second quarter, high cost of production causing worry, says FICCI survey

IANS

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