- In the world market,
there are nearly 300
varieties of granite of which India supplies about
200 varieties.
- In India ,Granite is
declared as a “Minor Mineral,” under the MMDR Act, 1957 and,
therefore, falls under the purview of the State Governments.
- Granite production is
dominated by China, Brazil, India, Saudi Arabia, Italy and Spain.
- India’s granite sector
is expected to grow at a compound annual growth rate (CAGR) of
16–18% during the period FY 2014–19 on the back of increasing
demand from the USA and Chinese markets, according to market
watchers
- India’s granite sector
has high resource
risk as granite is declared as minor mineral and extraction of
granite is controlled by
the State governments furthermore,
restrictions are also impose under the
foreign trade policy to import granite.
- Countries Importing
Stones Over One Million Tonnes in 2014 – China, USA, Germany, South
Korea, Taiwan, Italy, France, Canada,
Belgium, Japan
- The United States is
one of the world’s leading markets for dimension stone. Total
imports of dimension stone increased in value to about $2.6 billion
compared with $2.35 billion in 2015.
- China, India,
Turkey, Iran, and Italy, and these countries accounted for about 74%
of the world’s dimension granite and marble production
- The granite sector,
being an
export-oriented sector, is a source of foreign currency, primarily
in Chinese Yuan
Renminbi (CNY), USD, Pound Sterling (GBP), Euro (EUR) and Japanese
Yen (JPY). The appreciation in the value of
Indian rupee (INR) against these currencies may only increase the
foreign exchange risk for the companies in the sector
- As per the Report for
12th Plan, of India ,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.
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