Displaying items by tag: Wages

India: Cement plant workers will see a 33% rise in wages following the conclusion of the Cement Manufacturers' Association's (CMA) wage accord. The decision applies to cement plant workers at 85 cement plants owned by 20 cement companies, according to The Times of India.

The settlement provides for an increase of US$94/month in gross pay. While a hike of US$47/month will be given with effect from April 2014, an increase of another US$47/month will come into force from September 2016. This translates into a 33% salary increase. The wage arrears for 16 months will be paid in two instalments. The settlement is for a duration of four years, from 1 April 2014 to 31 March 2018 and covers around 66% of the total annual cement production capacity in the country, or 189Mt/yr out of 285Mt/yr.

"The current settlement is unique as it is perhaps the only nationwide settlement reached for workers of a major organised industry in the private sector," said N Srinivasan, vice chairman and managing director of The India Cements, who spearheaded the negotiations on behalf of the CMA. "Despite the difficult conditions being faced by the industry due to subdued demand and lower capacity utilisation, it has agreed to implement the wage revision in the overall interest of a large number of workers."