Economy to bounce back once Covid-19 brought under control: India Cements

The Chennai-headquartered company commenced operations in April following the partial lifting of the nationwide Covid-19 enforced lockdown.

India Cements on Wednesday said that it expects the economy, driven by high domestic consumption and a strong rural base, to bounce back once the Covid-19 pandemic is brought under control.

Company Managing Director and noted industrialist N Srinivasan told reporters here that the Covid factor has resulted in the cement industry seeing a 25 per cent decline in March compared to last year, while capacity utilisation for the sector, as well as the company, was below normal levels.

The city-headquartered company commenced operations in April following the partial lifting of the nationwide Covid-19 enforced lockdown.

However, with the re-introduction of lock-down in certain parts of