Big steel, cement companies are operating as a cartel: Nitin Gadkari

The minister said he had discussed the issue with the Prime Minister
Big players in the steel and cement industry are indulging in cartelisation to jack up prices, Union Road Transport Minister Nitin Gadkari said, pitching to place a regulator for the sectors. 

It will be difficult to achieve Prime Minister Narendra Modi's dream of making India a $5 trillion economy if the steel and cement prices keep going up, Gadkari said, pointing out the target of investing Rs 111 trillion on infrastructure projects in the next five years to aid the economy. It can be noted that allegations of such cartelisation have been made in the past as well, especially by the real estate industry, which is impacted through higher input prices because of it. 

The minister said he had discussed the issue with the Prime Minister. 




Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel