NAREDCO seeks govt intervention to check rising prices of raw materials

30 May 2021 CW Team

Industry members stated prices of necessary raw materials such as cement, metal, and bitumen increased considerably within the final 12 months, creating difficulties for many sectors, mainly infrastructure and property. Nonetheless, both these sectors are reeling from the effect of the pandemic and the resulting lockdowns.

NAREDCO told the media that the construction costs have increased over the last year with raw materials, especially steel, aluminium, copper, and cement. Industry officials mentioned costs of various grades of the metal have increased within 60-100% between July 2020 and May 2021.

In July 2020, the scorching rolled coil was rated at Rs 36,500 a tonne, and following the hike in May 2021, the cost of the scorching rolled coil rose to Rs 72,000 per tonne.

Similarly, cement costs increased 50-70% from 2020 to 2021. At present, the retail price of cement is Rs 420 per bag, whereas it was Rs 280 in FY20. The price is expected to increase in the coming months.

NAREDCO also mentioned that exports of metals could be banned for two years till the problem of excessive prices and availability in markets resolve. It is beneficial that costs of metal and cement are allotted till the provide is restored.

It further added that the import duty of steel should be decreased from 7.5% to zero for two years, and the use of imported cement should be permitted. However, Mishra ensured the builders that the ministry would examine these points and discuss them with the ministries involved.

Image Source

Also read: Pipe makers body seeks govt intervention to regulate soaring steel prices

Also read: NAREDCO seeks extension from UP RERA to complete real estate projects

Real estate body National Real Estate Development Council (NAREDCO) urged DS Mishra, housing and concrete affairs secretary, to check the increasing prices of essential raw materials, especially metal and cement, affecting development timelines. Industry members stated prices of necessary raw materials such as cement, metal, and bitumen increased considerably within the final 12 months, creating difficulties for many sectors, mainly infrastructure and property. Nonetheless, both these sectors are reeling from the effect of the pandemic and the resulting lockdowns. NAREDCO told the media that the construction costs have increased over the last year with raw materials, especially steel, aluminium, copper, and cement. Industry officials mentioned costs of various grades of the metal have increased within 60-100% between July 2020 and May 2021. In July 2020, the scorching rolled coil was rated at Rs 36,500 a tonne, and following the hike in May 2021, the cost of the scorching rolled coil rose to Rs 72,000 per tonne. Similarly, cement costs increased 50-70% from 2020 to 2021. At present, the retail price of cement is Rs 420 per bag, whereas it was Rs 280 in FY20. The price is expected to increase in the coming months. NAREDCO also mentioned that exports of metals could be banned for two years till the problem of excessive prices and availability in markets resolve. It is beneficial that costs of metal and cement are allotted till the provide is restored. It further added that the import duty of steel should be decreased from 7.5% to zero for two years, and the use of imported cement should be permitted. However, Mishra ensured the builders that the ministry would examine these points and discuss them with the ministries involved. Image SourceAlso read: Pipe makers body seeks govt intervention to regulate soaring steel prices Also read: NAREDCO seeks extension from UP RERA to complete real estate projects

Infrastructure Energy

28 Jun 2025

ACME Solar Signs PPA with SECI for 300 MW Sikar Project in Rajasthan

ACME Sikar Solar, a wholly owned subsidiary of ACME Solar Holdings, has executed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for 300 MW capacity in Rajasthan at a fixed tariff of Rs 3.05 per kWh. This achievement follows the commissioning of 300 MW capacity by ACME Sikar on June 23, 2025.The said bid was won earlier under SECI ISTS XVIII Tranche, and the tariff was formally adopted by the Central Electricity Regulatory Commission (CERC) on 30th May 2025. As per the agreement, the project requires to supply power on or before June 30, 2025. The pro..

Infrastructure Urban

28 Jun 2025

UGRO Capital Appoints Anuj Pandey as Chief Executive Officer

UGRO Capital, a leading DataTech NBFC focused on MSME lending, today announced the elevation of Anuj Pandey, as the Chief Executive Officer (CEO) of the Company. Anuj is one of the founding team members of UGRO and currently its Chief Risk Officer. The appointment reflects UGRO’s commitment to strengthening institutional leadership as it scales its MSME lending franchise. Anuj has been an integral part of UGRO since inception, having built the Company’s risk governance framework and credit architecture. He brings around twenty-five years of diverse experience across companies like GSK cons..

Equipment

28 Jun 2025

SANY Named Top Chinese Construction Machinery Firm in Forbes 2000

SANY Heavy Industry (600031.SS) has been recognized as China's premier construction machinery manufacturer in Forbes' 2025 Global 2000 list, ranking 956th position worldwide. The prestigious list evaluates companies based on four key metrics: sales, profits, assets, and market value, with data calculated from the latest 12-month financial results as of April 25, 2025. This achievement underscores SANY's leadership credentials in the global heavy machinery industry, validating its forward-looking "Globalization, Digitalization, and Decarbonization" strategy and reinforcing confidence in its inn..

NAREDCO seeks govt intervention to check rising prices of raw materials

ACME Solar Signs PPA with SECI for 300 MW Sikar Project in Rajasthan

UGRO Capital Appoints Anuj Pandey as Chief Executive Officer

SANY Named Top Chinese Construction Machinery Firm in Forbes 2000

Latest Updates

Advertisement

Recommended for you

Advertisement

Subscribe to Our Newsletter

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Modal Heading

First Name *

Last Name *

Industry *

Email Address *

Mobile Number *

Password *

Confirm Password *

Subscribe to our Newsletter

Email Address *

Password *

Please enter the details

Email Address

Modal Heading

First Name *

Last Name *

Industry *

Email Address *

Mobile Number *

Password *

Confirm Password *

Subscribe to our Newsletter

Email Address *

Password *

Please enter the details

Email Address