How did India’s cement industry perform in FY’26?

India’s cement consumption grew by around 9% y-o-y to nearly 490 million tonnes (mnt) in FY’26, compared to 453 mnt in FY’25, significantly outpacing countrys GDP growth of around 7.4% during the same period. The stronger growth highlights robust infrastructure activity, rising housing demand, increased government capex, and accelerating construction momentum across roads, railways, urban infrastructure and industrial projects, indicating healthy long-term demand fundamentals for the Indian cement sector.