Govt mulling importing more cement

Commerce Minister Kamal Nath today said that the government could import more cement to bridge the gap between demand and supply in the sector.

Speaking on the sidelines of the Pravasi Bharatiya Divas, Nath said: "There is a huge gap in demand and supply of cement because of the booming construction industry. We need to look at greater imports".

Nath also added that with the ongoing capacity addition in the sector, the demand and supply gap will be better addressed, which will lead to softening of prices. "We keep on reviewing the prices of cement from time to time".

Earlier, speaking at the same venue, Nath said the government is in the process of starting free trade agreements with United States and Canada. "Bilateral trade agreements are currently in the pipeline with at least 10 potential partners ranging from ASEAN, the EU, US and Canada".

He also said that in 2007-08, FDI worth $25-30 billion would come into India.

In addition, Nath said foreign remittances in to the country have touched $25 billion in the first nine months of 2007,  as against $ 24 billion in the 12 month period of 2006.