Understanding the Competitive Scenario of Granite Exports from India to USA

Abstract

India is blessed with ample varieties and reserves of natural resources, most of them having a robust market not only domestically, but also internationally. We produce as many as 87 minerals, which include 4 fuels, 10 metallic, 47 non-metallic, 3 atomic, and 23 minor minerals (Ministry of Mines, 2013). Granite falls under the minor minerals category. The present paper aimed to explore the potential of the Indian granite sector and the major market for it internationally. In the world market, there are around 300 varieties of granite that are available, out of which India supplies nearly 200 varieties. Some of these varieties like jet black and galaxy black are supplied uniquely by India in the international market. There is continuously growing demand for Indian black granite in the international markets for various needs. As building construction grows indiscriminately to meet the needs of a growing world population, it creates demand for building stones like limestone, marble, slate, and granite. Due to its (granite) beautiful finish and sturdiness suitable for interior and exterior decor, there has been a rise in its demand. In fact, in several premium constructions, it is replacing the Italian marble as well. As USA is the largest market for Indian granite, the paper tried and explored the analysis and strategies of other competing nations present in the U.S. market, which can be of great help for Indian granite exporters. An attempt was made to explore the strategic approach in order to make certain vital observations to lay down conclusions. The paper contemplated that the government, the private sector, and locals need to work together to achieve sustainable growth in the Indian granite sector within India and internationally.