India Investment in Granite: Indian Mineral Report 2013

Posted on 28/01/2016

granite india

India possesses one of the best granite deposits in the world having excellent varieties comprising over 200 shades. India accounts for over 20% of the world resources in granite.

The total granite resources in India as on 1.4.2010 are:46,230 million cu m.

As per the Report of the Working Group for 12th Plan (2012-17), the Indian stone production during 2009-10 was 35,342 thousand tonnes, and in value terms, the estimated turnover of the Indian Dimensional
Stone market in 2009-10 was of the order of ` 30,000 crore out of which the southern states accounted for ` 18,000 crore, Rajasthan ` 7000 crore, and the rest of India ` 5000 crore. Granite alone accounts for 2/3rd of the value of
production.

As per the Report for 12th Plan, the Dimension stone market is said to grow at a fervent pace as the demand for granite, marble, sandstone and other dimension stones and stone products is on the rise and are anticipated to grow at around 15% CAGR. A similar rate of growth in exports can also be achieved with the help of suitable policy framework, infrastructure and other facilities which the Industry expects to consolidate for augmentation of prospects. The Working Group for 12th Plan has recommended that well-planned, concerted and dedicated efforts are essentially needed for promotion of Indian stones to galvanise their export prospects. The emphasis needs to be on popularisation of Indian stones in both the traditional markets as well as other niche markets and exploration of new avenues by strengthening the activities of the Centre for Development of Stones (C DOS) in Rajasthan by upgrading it into a national centre of excellence could render the much-needed fillip to the industry as a whole. Alternatively, other options for exporting granite and marble in processed form to maximise export earnings are to develop and promote artifacts and special decorative and ornamental items of high value addition. There is tremendous skill in the country, which can be explored and supported with special incentives. This can certainly bring about substantial foreign exchange addition, as well as significant employment generation.
The Working Group for 12th Plan had observed that the present investment in Dimensional Stone Industry in India is at ` 20,000 crore. Further, it was observed that with the right policy support, the total turnover of the sector could rise to around ` 30,000 crore in 2009-10 and even higher to over ` 40,000 crore by 2012-13, and thereafter, double every five years considering an estimated growth rate of 15%. To sustain this level of anticipated growth there must be a protracted growth, investment flow into this sector to the tune of ` 1,07,500 crore by 2022-23 (including foreign investment).

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