Steel, cement companies draw flak from MSME minister

30 Dec 2020 CW Team

Union Minister for Ministry of Micro, Small and Medium Enterprises (MSMEs) Nitin Gadkari lashed out at the steel and cement industries for hiking prices without any valid reason. The two sectors drew heavy criticism due to the price hikes impacting infrastructure development negatively.

Expressing his disapproval in no uncertain terms over the steep 55% rise in prices in steel over the past few months, the Union Minister said that despite the government helping the cause of the industry time and again, the industry’s decision to hike prices by a margin of 55% will prove to be increasingly detrimental towards infrastructure development.

The minister further stated that he had floated repeated instructions to the cement and steel industry, asking them to increase prices only in the event of a hike in labour rates, power, royalties, and bank interest rates. He said that though he understands the impact that Covid-19 has had, increasing the prices in this manner will earn it the billing of a black market.

To state his concern over the steep hikes in prices that are being undertaken by the steel and cement industries, the Union Minister has written to the Prime Minister as well. Gadkari termed the rise in prices to be unjustified and said that if the industries continue to increase their prices then infrastructure is sure to take a hit. He also predicted the hike to have an impact on public and private investment.

The minister urged the industries to devise a mechanism to keep the price fluctuation at bay. Talking about the impact that covid had on the Indian economy, the minister stated that despite GDP being a matter of concern, they had witnessed a significant improvement nonetheless.

Image Source

Infrastructure Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..