India's GST Slash: A Boon for Cement Industry and Home Builders

In a significant move, the Indian government slashed the Goods and Services Tax (GST) on cement from 28% to 18%, a decision met with enthusiasm by the country's leading cement companies, including Vicat's subsidiaries Bharathi Cement Corporation Limited and Kalburgi Cement Private Limited.

This reform, spearheaded by Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, is expected to provide relief to millions of home builders and accelerate low-cost housing initiatives across India. It is also set to enhance infrastructure growth, fuel competition in the cement industry, and contribute to India's economic ascension.

Vicat's leadership reiterated their commitment to the country's growth, ensuring consumers benefit from the tax reduction. The company will adjust prices to reflect the new GST rate, as confirmed by Vicat's CEO Anoop Kumar Saxena and COO Manish Sharma. As a globally recognized leader in cement manufacturing, operations in 12 countries, Vicat aims to support India's development with high-quality, eco-friendly cement products.

(With inputs from agencies.)