Recent hike in diesel prices by Indian government will impact all sectors including steel and cement reported experts.
“It will certainly make freight charges to go up by at least 10-15% for road and rail making raw material to finished steel expensive. Ultimately end consumer will be affected the most as industries are not in a position to absorb this hike.This move is not welcome and we strongly oppose to it.” said an official from FICCI.
Industry experts also say that this will hike cement prices which will further hit construction industry as projects which were pending from long time will be further delayed sighting increase in cost.
“We see cost to be shared equally among end user and manufacturers.It cant be one way.” said market participants.
Leave a Reply