Mr Jayesh Doshi, General Manager, Finance, Gujarat Ambuja Cements Ltd, has said that the reduction of import duty should not cause much worry for Indian companies. "On the contrary, the conducive environment laid out by the Budget for infrastructure development and the incentives to the housing sector would help demand pick-up in the cement sector," Mr Doshi said.
He, however, did not think that prices would move up because of that.
"I think the prices would remain more or less stable," he said.
"The reduction in basic import duty on cement and clinker from 35 per cent to 25 per cent will not damage the interests of the domestic cement industry. It …