Big steel, cement makers indulging in cartelisation: Gadkari
New Delhi: Major steel and cement producers in the country are indulging in cartelization and increasing the process, said Road Transport Minister Nitin Gadkari.
“I feel this is a cartel by some of the major players in cement and steel,” Gadkari said. He was speaking at an event held by Builders Association of India.
He even said there needs to be regulators for these two sectors.
He even said that the aim of making the country a USD 5 trillion economy will become difficult if the prices of these two commodities keep going up.
He even said that he has discussed the matter of cartelization with the Prime Minister.
Gadkari pointed out that all the steel makers in the country have their own iron ore mines which means they the producers don’t have to face labour or power rate hikes. He expressed surprise as to how then the prices of steel are climbing up.
The Minister said that even the cement makers are exploiting the current situation and increasing the prices arbitrarily.