India has become one of the largest suppliers of bricks for construction and other uses, with a number of brick manufacturing companies in India popping up all over the country. This article will take a look at the growing brick manufacturing industry in India, including its history, current status, and potential future outlook.
Government Policies for the Promotion of the Industry
The brick manufacturing industry in India is growing rapidly. The government is promoting the industry through various policies. Some of these policies are:
1) The government has set up a dedicated Brick Manufacturing Promotion Council (BMPC) to promote the industry.
2) It has also created a Rs. 500 crore fund for the development of the industry.
3) The government has devised a scheme for quality control and standardization of bricks. Under this scheme, all units manufacturing bricks will have to get themselves registered with the BMPC.
4) The government has also devised a policy for energy conservation in the brick manufacturing sector. All units will have to install energy-efficient technologies and follow best practices in order to avail of incentives from the government.
5) In order to generate employment, the government has implemented a scheme wherein 50% of the total project cost incurred by an entrepreneur for setting up a new brick unit will be borne by the government.
Steps Taken by Companies to Sustain Growth
In order to sustain growth in the brick manufacturing industry in India, companies are taking various steps such as investing in R&D, expanding their production capacity, and diversifying their product portfolio.
R&D: Companies are investing in research and development to innovate and introducing new products in the market. This helps them to keep up with the changing trends and demands of the customers.
Future Prospects of the Brick Manufacturing Industry in India
The brick manufacturing industry in India is expected to grow significantly in the coming years. A number of factors are driving this growth, including the increasing demand for bricks in the construction sector, the government’s initiatives to promote the use of bricks, and the growing popularity of brick-making machines.
The demand for bricks in India is expected to increase at a rapid pace in the coming years. This is due to the growing construction industry in India, which is expected to register a CAGR of 9% during the period from 2019 to 2025. The construction sector is one of the major end-users of bricks and accounts for a significant share of the total demand for bricks in India.
The Indian government has been promoting the use of bricks as an eco-friendly building material. In line with this, the government has launched several initiatives such as providing subsidy on setting up of new brick kilns and encouraging the use of fly ash bricks. These initiatives are expected to boost the growth of the brick manufacturing industry in India.
India is one of the most rapidly growing countries in terms of brick manufacturing. With more than 5000 brick kilns, it is now home to some of the world’s leading manufacturers who are investing heavily in technology and innovation to produce quality bricks at affordable prices. This has not only enabled India to become a major player on the global stage but also opened up immense job opportunities for locals as well as foreigners looking for employment. The industry looks set to expand further and continue its growth trajectory into the future, making it an exciting investment opportunity for both local players and those from abroad.