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“They always decide the rates,” Nitin Gadkari calls steel and cement cartels in India a big problem

At the IECRP 2025 exhibition, Nitin Gadkari said, “Steel and cement industries are in the hands of a few people. They always decide the rates. Their cartelism is a big problem…”

By Naina Yadav
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Nitin Gadkari calls steel and cement cartels in India a big problem

Nitin Gadkari calls steel and cement cartels in India a big problem

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Nitin Gadkari, the Union Minister for Road Transport and Highways, has directed criticism towards the cartelisation of the steel and cement industries. 

According to CNBCTV18, Gadkari accused cartels in the two industries of acting as an obstacle in the country's path of infrastructure growth. 

At the IECRP 2025 exhibition, the Union Minister stated, “Steel and cement industries are in the hands of a few people. They always decide the rates. Their cartelism is a big problem for the country.”

Back in January 2021, Nitin Gadkari had expressed concerns over the same issue. He had written to the Prime Minister highlighting how major players in the steel and cement industries were artificially inflating prices.

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NITIN GADKARI PROPOSES THE FRP ALTERNATIVE

To reduce the country's reliance on the steel and cement industries, Nitin Gadkari proposed the utilization of FRP as an alternative. 

For those unaware, FRP is fibre-reinforced plastic. 

Promising support, he stated, “To create alternative material is my important interest to support you.”

To help FRP gain momentum and traction, Gadkari urged FRP manufacturers to offer competitive prices. He said they should offer products that are at least 20-25% cheaper than steel. 

Further pressing on fibre-reinforced plastic, the Union Minister laid out several applications:

  • Infrastructure 

  • Aviation

  • Shipping

  • Road construction 

  • Metro rail

Gadkari added that a lot of domestic production and research is needed here. This will enhance the FRP sector.

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INDIA'S STEEL WORRIES

CNBCTV18 also reported that domestic steel players in the country have been concerned for a long time. 

India is increasingly importing steel from countries like China. 

As a result of this, domestic steel players fear that India might be on the path of becoming a net importer of steel. This would go against the country's goal of becoming a global supplier.

WAY FORWARD

Apart from the above, the Union Minister for Road Transport and Highways also announced a significant reduction in hydrogen production costs—from Rs 300/kg to $1/kg. 

This will serve as a stepping stone for making India an energy exporter.

Additionally, Gadkari confidently added that India would transition into the world's largest automobile manufacturing hub within five years. Currently, the country ranks third in this aspect.

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