«Various companies are implementing massive projects across the country on green. So far as green is concerned, the discourse has actually changed to 24 by 7 green power, which means the conversations are now about storage,» says Vinayak Chatterjee, The Infravision Foundation.
My next question is perhaps based on what you also flagged off right now, which is that new sectors are taking over. Old sectors or traditional sectors are taking a backseat. But the analyst in Bombay also focuses on two big sectors, which is steel and cement. Now, if the new sectors are taking over, old sectors from a private sector capex standpoint, they could take a backseat. So, do you think indirectly, it could have impact on steel and cement demand also, which should grow ideally when the economy is booming, but which may not grow because of new capex?
Vinayak Chatterjee: Now, unfortunately, I have to agree with you again.
My lucky day, it is on record, 10th of September.
Vinayak Chatterjee: So, the point is that if you see the cement industry growth, which is probably the bellwether of determining infrastructure spend or traditional industry spend on building factories, etc, what is the cement sector growth in real terms?
I mean, it is 7%, 8%, 9%. With the same pace as the growth of GDP, in fact, nominal GDP is growing at 12%. But the cement sector is even less than nominal GDP growth. Am I right? So, therefore, it substantiates the hypothesis that we are seeing a structural change in the Indian economy, structural change in