New Delhi, May 26 -- India's cement industry is poised for a wave of consolidation as demand continues to rise sharply, according to Moody's Ratings.

Large cement producers are acquiring smaller regional players to expand capacity and maintain competitiveness amid growing consumption.

Over the past five years, top 10 cement companies in India have acquired around 140 million metric tonnes per annum (MMTPA) of capacity, valued at Rs 890 billion (USD 10.5 billion).

This trend is expected to continue, with major players like UltraTech and Ambuja leading mergers and acquisitions, particularly targeting regional producers with lower profitability.

South India remains the most exposed to this consolidation due to its high number of small ce...