Steel prices rise 55% in 6 months, minister seeks PM’s intervention

21 Dec 2020 CW Team

The government will soon have to change the policies and will have to promote the usage of alternative technologies in projects if the players do not curb the practice of exorbitantly increasing the prices.

Gadkari said that the National Infrastructure Pipeline was crucial for the revival of the economy across multiple sectors of the nation. He also spoke about a new GPS system for the collection of fees in the toll booths. The GPS technology will be rolled out in a couple of years.

While addressing the Assocham Foundation Week Gadkari informed that he had written to Dharmendra Pradhan, Steel Minister and the Prime Minister about the 55% hike in the steel prices and was waiting for their reply. He added that the price hike did not match the labour prices and the cost of the raw materials. Earlier, the Union Minister had warned the cement manufacturers against cartelling. He wanted a long term policy to prevent this from happening in the future.

The Union Minister stated that price hike in the range of 15-20% could have been justified, but the recent hike is just dreadfully high. He also suggested that the steel and cement manufacturers can increase their profitability by increasing their productivity, instead of cartelling. He warned that this kind of attitude by the manufacturers is not good for real estate and infrastructure.

Also read: Prices of most raw materials spike in TN

Steel prices in India have seen a significant price hike over the last six months, as much as 55%, as reported by sources. On Thursday, Union Minister Nitin Gadkari sought Prime Minister Narendra Modi’s attention towards the exploitative nature of the hike in steel prices by the industry players. In the past six months, the steel prices have gone up by 55% and have made numerous projects unviable, said Gadkari.The government will soon have to change the policies and will have to promote the usage of alternative technologies in projects if the players do not curb the practice of exorbitantly increasing the prices. Gadkari said that the National Infrastructure Pipeline was crucial for the revival of the economy across multiple sectors of the nation. He also spoke about a new GPS system for the collection of fees in the toll booths. The GPS technology will be rolled out in a couple of years. While addressing the Assocham Foundation Week Gadkari informed that he had written to Dharmendra Pradhan, Steel Minister and the Prime Minister about the 55% hike in the steel prices and was waiting for their reply. He added that the price hike did not match the labour prices and the cost of the raw materials. Earlier, the Union Minister had warned the cement manufacturers against cartelling. He wanted a long term policy to prevent this from happening in the future. The Union Minister stated that price hike in the range of 15-20% could have been justified, but the recent hike is just dreadfully high. He also suggested that the steel and cement manufacturers can increase their profitability by increasing their productivity, instead of cartelling. He warned that this kind of attitude by the manufacturers is not good for real estate and infrastructure. Also read: Prices of most raw materials spike in TN

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..