As India commemorates National Concrete Day on September 7th, IndiaMART, the nation’s leading business-to-business (B2B) marketplace, has released an essential industry report titled “Cementing Growth: An Indian Perspective on the Cement Industry.” This comprehensive report delves into the prevailing trends within the cement and construction sectors, offering valuable insights derived from IndiaMART’s extensive interactions with industry buyers and sellers over recent years.
Cement: A Pillar of India’s Economic Strength
Cement stands as one of India’s eight core industries, reflecting its pivotal role in the country’s economic infrastructure. With an impressive installed manufacturing capacity of 583 million tonnes and an annual production output of 391 million tonnes, the cement industry is on a robust growth trajectory. In the fiscal year 2023, the industry achieved a year-on-year growth rate of 6.8% and is projected to accelerate to 8% by FY25. This growth surge is expected to translate into an additional 150-160 million tonnes of output between FY25 and FY28.
The economic influence of the cement industry is substantial, with a multiplier effect of 4.16x on economic output and 1.53x on GDP. Furthermore, for every million tonnes of installed cement production capacity, approximately 20,000 downstream jobs are created, underscoring the industry’s critical role in driving employment and economic development.
IndiaMART: Bridging the Gap in the Construction Sector
As a leading B2B marketplace, IndiaMART plays a significant role in the construction and building raw materials sector. Currently, 8% of all paid sellers on the platform are engaged in this category, making it one of the top sectors. Over the past five years (2019-23), IndiaMART has received a staggering 15.5 million inquiries related to cement. The top ten states with the highest demand include Uttar Pradesh, Maharashtra, Bihar, Tamil Nadu, Rajasthan, Karnataka, West Bengal, Madhya Pradesh, Telangana, and Andhra Pradesh.
Dinesh Gulati, Chief Operating Officer of IndiaMART InterMESH Limited, highlights the platform’s significance, stating, “IndiaMART continues to remain the #1 choice for sellers and business buyers in cement and construction to connect digitally. Having facilitated over 15 million inquiries in five years, it is a testament to the enormity of this category. Our report provides invaluable insights into the cement industry, with a glimpse of how IndiaMART serves as a favorable destination for cement suppliers and buyers to engage online.”
The Role of Government Initiatives and Growing Housing Demand
The Indian government’s focus on infrastructure development, housing, and transportation infrastructure is set to provide a significant boost to the cement sector. This, combined with the rising demand for both rural and urban housing, ensures that cement remains a core area of growth for the Indian economy.
IndiaMART’s report, “Cementing Growth,” offers a strategic advantage for buyers and suppliers within the sector, enabling them to leverage emerging trends and chart their own growth trajectories. As India continues to advance its infrastructure initiatives, the cement industry is poised to play a crucial role in shaping the nation’s future.
For businesses involved in the cement and construction industry, IndiaMART’s platform offers an unparalleled opportunity to engage with a vast network of buyers and suppliers, ensuring they remain at the forefront of this dynamic sector.
Click here to download the complete report.
