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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="20674001" type="General" weightage="100" keywordseo="Savitri-Jindal" source="keywords">Savitri Jindal</keyword>, the matriarch of the <keyword id="21185539" type="General" weightage="20" keywordseo="Jindal-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Jindal Group" meta.hostid="261" meta.entityid="Jindal Group">Jindal Group</keyword>, is India's richest woman with a net worth of $36 billion. </li><li>Following her husband Om Prakash Jindal's sudden death in 2005, she took over the <keyword id="34570" type="General" weightage="20" keywordseo="steel" source="Orion">steel</keyword> and <keyword id="44011" type="General" weightage="20" keywordseo="power" source="Orion">power</keyword> conglomerate. </li><li>She is the only Indian woman in the top 10 of <keyword id="20017067" type="General" weightage="20" keywordseo="Forbes" source="keywords" meta.keywordsubtype="org" meta.entityname="Forbes" meta.hostid="261" meta.entityid="Forbes">Forbes</keyword>’ list of the richest women in the world in 2024. </li></ul>In the vast and dynamic landscape of Indian business, one name stands out as a symbol of resilience, leadership, and unparalleled success: Savitri Jindal. With an astonishing net worth of $36 billion, she is India's richest woman. According to the <keyword id="962341" type="General" weightage="20" keywordseo="bloomberg-billionaires-index" source="Orion">Bloomberg Billionaires Index</keyword>, her net worth zoomed at $9.5 billion in 2024, making her the only Indian woman in the top 10 of Forbes’ list of the richest women in the world that year. <h2> A Legacy of Leadership</h2>Savitri Jindal's journey began in 2005, following the unexpected death of her husband, Om Prakash Jindal, the visionary founder of the Jindal Group. Thrust into the helm of a vast conglomerate with interests in steel, power, <keyword id="6378916" type="General" weightage="20" keywordseo="cement" source="Orion">cement</keyword>, and infrastructure, she faced immense challenges. Yet, her determination and astute leadership transformed these challenges into opportunities, propelling the Jindal Group to unprecedented heights. Under Savitri Jindal's guidance, the Jindal Group flourished, becoming a cornerstone of India's industrial sector. Some of the flagship companies of the Jindal group are Jindal Saw Limited, JSW Steel, Jindal Stainless Steel Limited and Jindal Steel and Power Limited. She’s currently the chairperson emerita of the O.P. Jindal Group, and also the president of Maharaja Agrasen Medical College, Agroha. <h2>Beyond the Boardroom</h2>Savitri Jindal's influence extends beyond the boardroom. She has made significant contributions to public service and philanthropy. In 2005, Jindal was elected to the Haryana Vidhan Sabha from Haryana’s Hisar constituency, which was earlier represented by her late husband Om Prakash Jindal for a long time. In 2009, she was re-elected to the constituency and was appointed the cabinet minister in the Haryana Government on 29 October 2013. She transitioned to the Bharatiya Janata Party in March this year. <h2>A Broader Trend of Empowerment</h2>Savitri Jindal's rise to prominence is not just a personal triumph but a reflection of a broader trend in India. Women are breaking barriers and redefining success in the business world. Influential figures like Kiran Mazumdar-Shaw and Falguni Nayar are reshaping the narrative of corporate leadership and success, proving that the boardroom is no longer an exclusively male domain. Savitri Jindal's story is one of perseverance, strategic vision, and an unyielding commitment to excellence. Her leadership has not only fortified the Jindal Group's position as an industrial powerhouse but has also inspired a new generation of women leaders in India.

Meet Savitri Jindal: The richest woman in India, with a net worth of $36 billion!

<ul class="summary-list"><li>US Steel is warning the White House not to block its sale to Nippon Steel.</li><li>The company floated massive job cuts in Pennsylvania, a key swing state.</li></ul>It's a rare thing to see Joe Biden, Kamala Harris, and Donald Trump all agree on something.But as the 2024 election races into its final sprint, the sitting president and both contenders to replace him all want to block the <a target="_blank" class="" href="https://www.businessinsider.com/us-steel-former-largest-steelmaker-sold-nippon-steel-japan-2023-12">sale of US Steel to Japanese company Nippon Steel</a>.But it appears the steelmaker isn't going quietly if its acquisition is rejected.Biden plans to announce that he will block the $14.9 billion sale of US Steel to Nippon, sources told both <a target="_blank" class="" href="https://www.washingtonpost.com/business/2024/09/04/biden-prepares-reject-us-steel-deal/">The Washington Post</a> and <a target="_blank" class="" href="https://www.ft.com/content/b8427273-7ee7-48de-af1e-3a972e5a0fcf">The Financial Times.</a>The Financial Times reported that the president would reject the deal — which both companies agreed to in December — based on national security concerns.The possible acquisition of a once-mighty American brand like US Steel by foreign investors has become a flash point in the 2024 elections, with both major candidates arguing against it.In a joint campaign stop with Biden in Pennsylvania on Monday, Harris told supporters that "US Steel should remain American-owned and American-operated," <a target="_blank" class="" href="https://apnews.com/article/harris-biden-election-2024-afd4b7fbd9d747e307a8fb5c1f60d5fa">the Associated Press reported</a>.Trump has also repeatedly pledged to block the sale "instantaneously" if he re-enters the White House, <a target="_blank" class="" href="https://www.politico.com/news/2024/01/31/trump-us-steel-sale-00138910">Politico reported</a>."I will stop Japan from buying United States Steel," Trump reiterated at a Pennsylvania rally in August, according to <a target="_blank" class="" href="https://www.reuters.com/markets/commodities/trump-reiterate-he-will-stop-us-steel-sale-nippon-2024-08-19/">Reuters</a>. "They shouldn't be allowed to buy it."But just hours before the news dropped of Biden's rejection on Wednesday, US Steel floated closing its steelmaking operation in Pittsburgh and relocating its headquarters out of Pennsylvania — a critical swing state to the 2024 election — if its sale to Nippon falls through.US Steel <a target="_blank" class="" href="https://investors.ussteel.com/news-events/news-releases/detail/692/u-s-steel-employees-to-rally-in-support-of-nippon-steel">warned in a statement</a> on Wednesday that if the deal falls through, there would be major consequences."Without the Nippon Steel transaction, US Steel will largely pivot away from its blast furnace facilities, putting thousands of good-paying union jobs at risk, negatively impacting numerous communities across the locations where its facilities exist, and depriving the American steel industry of an opportunity to better compete on the global stage," US Steel wrote.US Steel CEO David Burritt put it more simply, telling <a target="_blank" class="" href="https://www.wsj.com/business/u-s-steel-warns-of-plant-closings-if-sale-collapses-4ef45756?mod=hp_lead_pos8">The Wall Street Journal</a> that without the acquisition, the company wouldn't "have the money" to maintain workers' jobs and keep its mills competitive.The company noted in its statement that Nippon had agreed to invest roughly $2.7 billion in facilities in Pennsylvania and Indiana.The statement also highlighted a rally on Wednesday by some Pennsylvania steelworkers, who called on state Gov. Josh Shapiro and other elected leaders to honor the deal.Business groups like the advocacy organization the US Chamber of Commerce have also urged Biden not to block the foreign investment.The White House and US Steel did not immediately respond to requests for comment from Business Insider.

Harris, Trump, and Biden all want to block US Steel's sale. Now the steelmaker is playing hardball in Pennsylvania. 

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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

Meet Savitri Jindal: The richest woman in India, with a net worth of $36 billion!

Prerna Tyagi

Harris, Trump, and Biden all want to block US Steel's sale. Now the steelmaker is playing hardball in Pennsylvania.

Grace Eliza Goodwin

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