The Builders' Association of India (BAI) held a one day nationwide strike on February 12 to protest against the unethical practices in cement and steel industries and to demand a separate constitution of a regulatory authority. Hit badly by the cartelisation and artificial price hike by cement and steel manufacturers and stakeholders representing construction, the real estate industry in the Mumbai Metropolitan Region (MMR) participated in the protest in large numbers in a bid to attract the attention of the government authorities towards the menace, a BAI press release stated.
Mohinder Rijhwani, chairman, BAI Mumbai Center said, "BAI has been continuously raising this issue at various forums. It is also fighting a legal battle and has approached the government authorities against the unethical practices. We strongly demand the constitution of regulatory authority for the sectors to curb the ill practices that ultimately pinch the general public and hinders the growth of the country."
BAI is an apex all India body of Engineering Construction Contractors and Real Estate Companies founded in 1941, with more than 20,000 business entities as members through its 200 plus centres (branches) throughout the country. Regional associations affiliated to BAI form indirect membership of more than 1,00,000.
The industry contributes maximum GDP growth and accounts for more than 50 per cent of total plan outlay.
