Indian Stone Is Making Every Effort To Compete For The Russian Market

Due to the prosperity of the Russian granite and marble markets, Indian natural stone exporters are unanimously striving to gain market share in Russia. From June 23rd to 27th, 2009, 15 Indian stone companies participated in the Russian Stone Exhibition, showcasing a range of stone products and processing techniques. The participation of India's largest stone company in the annual Russian Stone Exhibition is in stark contrast to the Indian business community's indifference towards the Russian market.

It is reported that India's natural stone exports increased from less than 6 million US dollars in 2005-2006 to 19 million US dollars last year. Most Indian stone products reach the Russian market through China or other countries, and their prices have tripled compared to direct exports from India. In Russia, Indian granite and marble are mostly used to decorate public buildings or private residences, such as the newly built underground passage in Kazan, which uses Indian stone.

 

Our current goal is to regain the Russian market from other exporters of Indian stone, "said Veeramani, President of the Indian Natural Stone Products Association. The European and American markets are the main markets for Indian stone exports, with an export value of 1.35 billion US dollars last year. However, the current economic crisis has severely impacted the Indian stone industry. Due to the prosperity of Russia's construction industry, its natural stone market has risen by 5% -10% this year.

 

Mr. Veeramani, President of GEM Granite Company in India, said, 'We must work hard to develop in order to catch up with the market share of Chinese and Western companies in Russia.'. He believes that India missed the opportunity for the full opening of the Russian market in 1990, and its development of the Russian market has lagged behind that of China and Western countries since then.