INDIA IN BRIEF
India is the second most populous country of the world with more than 1.2 billion people. According to 2015 estimates the population has raised to 1.276,000,000.
India is a constitutional parliamentary federation. Due to its size (area 3,287,590 km2, the seventh largest in the world) and the huge population, the country has decided that the federation is the most suitable governance system due to the state composition of 29 states and 7 union territories.
Federalism in India defines the power distribution between the federal government and the states.
THE INDIAN ECONOMY
India is one of the G-20 major economies, an industrialized country, member of BRICS and has a developing economy with an average growth rate of 7% for the last two decades.
India has the seventh-largest economy worldwide and replaced the P.R. of China as the fastest growing economy in the world by the end of 2014. The Mining sector contributes about 11% to the economy by the GDP of the total industrial sector. With strategic reforms since 1991 and their renewal in the 2000s,
India managed to move towards a free market economy.
INDIAN MARBLE, GRANITE AND NATURAL STONES INDUSTRY
India has a remarkable variety of natural stones that include granite, marble, sandstone, limestone, slate, and quartzite, spread out all over the country. India is also amongst the largest producer of raw stone material, with superior quality, low prices and the most advanced technology for quarrying and processing of stone.
The Indian natural stone industry is evolved in the production and the manufacturing of dimensional stone blocks for monumental and building purposes, in all forms of structural slabs, flooring slabs, structural slabs, calibrated – ready to fix tiles, in processed monuments and tomb stones, in cobbles, cubes, kerbs and landscape garden stones, etc.
The most serious contender of the Indian natural stones industry is China, especially in the granite trade due to its lower prices. Spain is an important contender too. Spanish industries investing mainly in the infrastructure and machineries increase their production capabilities to a greater extent.
Marble was used for building tombs, temples and palaces. For a long time it was considered as Royal Stone. It is, however, now used in hotels and homes too.
There are many varieties such as Makrana marble (used in the Taj Mahal), Rajnagar Marble (the world’s largest marble-producing area, with over 2,000 gang saw units located in the nearby town of Udaipur), Andhi Marble (a dolomitic marble with intrusions of tremolite), Salumber Marble (also known as Onyx Marble), Rajasthan – Abu Black (a rare black textured marble), Madhya Pradesh – Katni Range: (famous beige coloured marble), Indian Green Marble, etc.
Federation of Indian Granite and Stone Industry (Formerly Known as All India Granites and Stone Association).
It is established with a commitment to serve India’s Ornamental Stone Industries specialized in granites, marbles, sandstones, slates, limestone, quartzite etc.
Federation of Indian Granite and Stone Industry (FIGSI) has been working since 1983 for their progress and scientific development as well as in removing obstacles to achieve rapid and constant growth.
The principal objective of FIGSI is the promotion of the Natural Stone Industry, acting as a bridge between Industry and the Government in bringing constant improvement in mineral regulation, policies, processes, systems and procedures.
FIGSI also promotes the gradation of technology aimed at mine safety, productivity, cost efficiency and quality improvement. It is initiating to start an Institute for Research and Development as well as training to benefit the industry.
The major committees in which FIGSI has been given a chance to serve are:
- Granite development Council
- Group of Marble Development
- Planning Commission
- FIGSI is in the Executive Committee of SMI, EC (Sustainable Mining Initiative) which is formed
- by the FIMI.
- FIGSI has submitted memorandum on various issues and problems faced by the Industry with respective State governments and Central Government.
- FIGSI has made several representations to Commerce Ministry, Government of India and also DGFT to bring both the Granite and Marble blocks import under OGL scheme.
For more details and information please check at: http://www.stonafigsi.com/figsi/history.html
THE INDIAN CONSTRUCTION MARKET
An extended survey, by Hina Latif, prepared for The Big 5 Construct India about the construction market of India is presented in Thebig5hub.
The report states: $1.3 trillion India’s current GDP, the economy is predicted to grow by 10% per annum by 2020, with a savings rate of 37% India’s domestic savings fuel most of its investment requirements, 10% of India’s GDP is based on construction activity, 7-8% construction industry growth in the next 10 years, $1 trillion – investment in infrastructure (2012-2017), $ 650 billion – investment in urban infrastructure in the next 20 years, $ 250 billion- investment in the power sector (2015-2020), Indian stock market has generated investment returns of over 15% per annum for the last 10 years and experts expect this rate to increase in the next decade.
More about the opportunities in India and The Big 5 Construct India show can be found here:
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