India, Jan. 4 -- India's cement industry is growing fast, driven by rising construction, infrastructure projects, and housing demand. Big companies like UltraTech, Ambuja, and Shree Cement lead the market. Ambuja Cement, in particular, is undergoing structural changes aimed at improving efficiency and expanding its reach, which has sparked discussions about whether it could eventually overtake UltraTech and become the top cement company in India.

Industry Overview India is the second-largest cement producer in the world, with installed capacity of around 700 million tonnes per year, while actual cement consumption is about 450 million tonnes. Demand is growing at 6-7 percent annually, supported by housing and infrastructure spending, and...