JK Lakshmi Cement has called on the government to reduce the Goods and Services Tax (GST) on cement from 28% to 18% in the upcoming Budget. Arun Shukla, President and Director of JK Lakshmi Cement, emphasized the importance of policy measures that support cement-driven infrastructure growth during the ‘Bihar Business Connect 2024’ event.
Strategic Expansion in Bihar
The company is investing ₹500 crore in a manufacturing plant in Madhubani, Bihar, set to become operational within a year. Shukla commended the Bihar government’s proactive support and fiscal incentives, describing the experience as “amazing.”
Growth Targets and Diversification
JK Lakshmi Cement aims to increase its annual capacity from 18 million tonnes to 30 million tonnes by 2030, addressing an anticipated 7-8% annual demand growth. The JK Organisation, the parent company, is also exploring investments in sectors like tyre and paper manufacturing, aligning with its diversified growth strategy.
(Follow Us for more updates only on www.archinfratimes.com).