Cement industry to hold wage revision talks on June 29

Cement manufacturers and employees unions would hold talks here on June 29 on wage revision in the industry following the expiry of the four-year accord reached in 2014.

Noted industrialist and India Cements Ltd, Vice-Chairman and Managing Director, N Srinivasan would represent the Cement Manufacturers Association in the talks with representatives of more than 10 labour unions.

The previous four-year wage settlement reached in 2014 expired on March 31, 2018.

Srinivasan, who earlier served CMA as president twice would lead the negotiations with unions including INTUC, AITUC, CITU, HMS (Hind Mazdoor Sabha), Bharatiya Mazdoor Sangh and LPF of DMK.

Briefing reporters, here, Srinivasan said, the cement industry was facing many challenges including deposits of limestone being available in only seven states.

"Not all the regions are prosperous. The industry faced nil or weak demand in the last six to seven years. It faced cost pressure with increase in price of all materials and inputs," he said.

The unions represent more than one lakh employees and the last wage settlement in 2014 witnessed an increase of Rs 10,000 per month, which included a hike of Rs 6,000 in basic wage, along with variable DA, bonus and other allowances.

The new wage settlement is expected to cover 20 to 25 member companies employing over one lakh people.