Realty firms urge setting up of regulatory body for cement sector

01 Dec 2020

Amid frequent allegations of cartelisation and profiteering in the cement manufacturing industry, realty developers have urged Prime Minister Narendra Modi to set up a regulatory authority for the sector. The Builders Association of India (BAI), which represents over 20,000 business entities, has said such an authority will prevent manufacturers from indulging in unethical trade practices. In May, property developers had sought government intervention into alleged cartelisation among cement and steel manufacturers following a sudden increase in prices. The developers’ body has substantiated its demand with the rulings and observations of various statutory bodies like the Competition Commission of India, committees and submissions in Parliament and its statutory committees. The cement industry was decontrolled in 1989 and delicensed in 1991.

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