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Our Bureau

Chennai , Jan. 18

DESPITE having vast natural resources and a large pool of craftsmen, the Indian natural stone industry is facing severe competition from China.

Over the past few years, China, backed by favourable Government policy, low-cost funding and economies of scale, has gained market share in the international market.

For instance, China dominates almost 98 per cent of the Japanese monument market. China imports rough stone from India and exports it with value addition.

Mr R. Veeramani, Chairman, Indian Monument Manufacturers' Association (IMMA) Stone Fair 2005, said that major constraints faced by the industry were lack of road and port infrastructure and government policy.

He said that the Indian natural stone industry is estimated to be over Rs 3,200 crore processing stones, including marble and granite slate. Indian monuments are exported to over 25 countries.

Today, more than 95 per cent of the monument factories are located in Tamil Nadu, Andhra Pradesh and Karnataka, with Tamil Nadu's share being almost 75 per cent. In Tamil Nadu there are about 150 units, he said.

India processes about 32 granite varieties for monuments and 90 per cent of them are available in these three southern States. Granite is also imported from Norway, Finland, Brazil, South Africa and China for value addition here.

The industry is organising the second edition of the IIMA Stone Fair 2005 here from January 20-23 at the Chennai Trade Centre. The fair will showcase the industry's strengths. Foreign buyers and visitors are expected at the fair, Mr Veeramani said.

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