New Delhi: Big companies of steel and cement industry are involved in factionalism to increase prices. Union Minister of Road Transport and Highways Nitin Gadkari has said this. He has stressed the need for a regulator for these areas. Gadkari said that if the prices of steel and cement continue to rise, it will be difficult to fulfill Prime Minister Narendra Modi’s dream of making India a $ 5 trillion economy. He also mentioned the target of investing 111 lakh crore rupees on infrastructure projects in the next 5 years to give a boost to the economy.
Let me tell you that before this, there have been allegations of factionalism on companies related to the real estate industry. Gadkari said at a virtual event organized by the Bilders Association of India (BAI) on Saturday, “I think the big companies in the cement and steel sector are raising prices by colluding.” This is a problem for all of us. He said that this issue has been discussed with PM Modi. There has been a long discussion with the Principal Secretary of the Prime Minister’s Office.
Gadkari said that all companies in the steel industry have their own iron ore mines. They do not have to face the increase in labor or power rates, then how is the steel industry increasing prices. Further, the cement industry is taking advantage of the situation by increasing prices. This behavior of both industries is not in the interest of the nation.