Construction in India seriously effected by lifted prices

Construction in India seriously effected by lifted prices

According to market reports the Construction Federation of India (CFI) warned the government about the threat that infrastructure development programmes are facing due to boosting steel prices, especially for long products. Having said that, the Construction Federation requested the government to revoke non-tariff barriers on steel imports for free or low-duty imports and form a task force to examine the price hikes. Figures reveal that since the beginning of 2003 bar and rod prices went up by 32.33% and structural steel by 25.33%. Besides, consumption of these products account for about 41% of 27 million tons of steel produced in the country.