Cement & Steel firms operating as a cartel: Gadkari

Nitin Gadkari, while addressing the meeting of the Western Region segment of the Builders’ Association of India, said that cement and steel industries are exploiting people by levying higher rates. This will affect the implementation of infrastructure projects in the count. He added, “There is a cartel in the cement and steel industry. Every steel company has its own iron ore mines & there has been no increase in labour and power costs but they are increasing rates.”
The Builders' Association of India, Western Region, suggested creating a regulatory authority for the steel and cement industries, to which Gadkari said that, he will forward this suggestion to the Finance Ministry and PM.