homevideos Newseconomy NewsSteep cost rise across all areas of business; India Inc red flags inflation
Steep cost rise across all areas of business; India Inc red-flags inflation
Inflation is starting to take a toll on the industry; from retail to real estate to automobile, CEOs across sectors have been flagging the rising input costs as a key headwind to businesses. India Inc is definitely worried about input cost inflation. CNBC-TV18 spoke with companies like Adani Wilmar, JK Cement, IRB Infra, Maruti, and Bajaj Electricals so, be it autos, consumer durables or even consumer staples or building products, everyone is facing the heat right now.
Inflation is starting to take a toll on the industry; from retail to real estate to automobile, CEOs across sectors have been flagging the rising input costs as a key headwind to businesses.
India Inc is definitely worried about input cost inflation. CNBC-TV18 spoke with companies like Adani Wilmar, JK Cement, IRB Infra, Maruti, and Bajaj Electricals so, be it autos, consumer durables or even consumer staples or building products, everyone is facing the heat right now.
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Adani Wilmar said that they have seen a steep cost rise across all areas of business and sunflower oil consumption itself has dipped by 50 percent owing to the cost increase that the companies have passed on to the consumers.
JK Cement too has said it has been an increase of over 70 percent in input costs, whereas IRB infra is pricing in a tariff hike of almost 14 to 15 percent next year owing to input costs and higher inflation.
Brigade Group has said that steel prices have doubled in the last one year and price of cement as well as raw materials like copper etc. have gone up too, which means that real estate prices will have to go higher as well.
Maruti has seen a price hike of 9 percent this year so far and the management said that even this increase does not cover for the input cost inflation.
Watch video for more.
First Published: Mar 25, 2022 8:55 PM IST
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