India continues to remain a key growth market

IIPM PUBLICATION
So what will be the vista of the industry ten years down the lane? Jayesh Doshi, VP Treasury, Gujarat Ambuja Cement Ltd. (GACL) answers, “On the consolidation front, the sector would remain fragmented with about 30-35 players.” The fire that was started by GACL in the 1990s by taking over Modi Cement and DLF Cement is being re-ignited by global giants. Holcim – via acquiring controlling stakes in GACL, ACC and ACEL – has taken the top slot in the sector, leaving Grasim snubbed. On the other hand, Lafarge, the world’s largest cement company, is moving on altogether a diff erenttrajectory. The company’s existing capacity in India is a miniscule 5 MMT, which certainly does not justify their global size and scale. Bertrand Collomb, Chairman, Lafarge, explains the anomaly thus, “India continues to remain a key growth market for us; (but) it has been tough getting returns on investments, and it will take time before we realise our initial investments. If others believe that they can get returns faster, good luck.”

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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