Adani Cement exits industry lobby group Cement Manufacturers’ Association – ET Infra

Adani Cement, which owns Ambuja Cement and ACC, has exited the industry lobby group Cement Manufacturers’ Association (CMA), which represents all large cement players in the country, said people in the know.

This comes after the Adani Group company had a difference of opinion on multiple issues with the CMA, the people cited above said without clarifying further.

Both Ambuja Cements and ACC had stopped sharing production and sales data with the CMA a few years back and have not been active members of the association, said an analyst with a domestic brokerage who did not wish to be quoted.

The CMA itself stopped actively collecting data after India‘s competition watchdog accused the organisation of being part of a cartel that illegally controlled prices of cement. “It is possible that it is more of a procedural thing, just to make sure that they are not involved in any more cases that may come up in the future. It could be a precautionary step,” he said.

Both the Adani Group and the CMA did not respond to queries sent by ET till the press time.

  • Published On Jun 7, 2023 at 07:58 AM IST

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