Cement sector to grow in double-digits from next fisc

Mumbai : The 197-million tonne domestic cement industry is set to clock double-digit growth from next fiscal with demand outstripping even the 57-mt capacity addition expected by FY14, says an industry report by Ernst & Young India.

The Rs 77,800-crore (as of june '11) domestic cement market -- already one of the fastest growing ones globally and the second largest among the emerging markets after China -- is on course to a double-digit growth path, it says.

"From FY13, the domestic demand is expected to exceed supply... From FY12 through FY14, the domestic cement industry will add at least 54 mt new capacity," says Ernst & Young India partner Nitin Gupta in a report titled 'Cementing India.'