India has lifted a ban on cement exports

According to trade ministry, India has lifted a ban on cement exports, as price pressures eased and domestic demand is depressed due to a slowdown in construction activity. The Director General of Foreign Trade under the Commerce Ministry has informed that he has allowed cement export with immediate effect.

In order to increase local supplies and check rising prices, government had banned cement exports in May. Construction activity has slowed down In the past few months as high interest rates trimmed demand for new homes while companies deferred expansion plans due to a credit crisis.

In November, India''s cement output was 14.34 million tonnes, which was than 14.76 million tonnes produced in October, according to the Cement Manufacturers'' Association.