Expect cement prices, demand to recover in second half of FY20: Srinivasan

He expects increased spending on infrastructure projects by the Centre and acceleration in infrastructure projects and development schemes by the new government in Andhra Pradesh to spur the industry

N Srinivasan, vice chairman and managing director of India Cements Limited (ICL), said he was "cautiously optimistic" about the prospects of the Indian cement market, which has been facing supply overhang, and expects an uptick in demand and prices from the second half of the current financial year.

Increased spending on infrastructure projects by the Centre and acceleration in infrastructure projects and development schemes by the new government in Andhra Pradesh should spur demand, he said.

"The cement industry which grew over 13 2 per cent in the first quarter of last year had to be content with a marginal