The study was designed to investigate the the progress of Indian cements industry since 1991, in terms of its growth in installed capacity, production, exports, and value additions; In detail the research methodology used for the study that has focused on the past, present and the future performance of Indian Cement Industry (ICI) at the macro level and the Chettinadu Cement Corporation Limited (CCCL) at the micro level as a case firm. The study purely relies on secondary data. The secondary data were collected for a period of fifteen years (1991-92 to 2005-06) from the database maintained and made available by several organizations viz., Cement Manufacturers Association, Export Import Bank of India, Centre for Monitoring Indian Economy etc. for the purpose of effective periodical analysis. In order to know the progress of ICI, annual time series data for the six variables were studied for trend, cyclical variation and random variation, as seasonal variation was not observable in the annual data. The estimated trend equations were evaluated for their goodness of fit and predictive power and found valid to draw inferences. The values of the six variables were projected to the next five years. Estimated values were adjusted for the likely effects of cyclical variations (c) the reliability of predicted values were evaluated with the help of forecasting error. In the end of the study implications and conclusion were provided.