Bengaluru, Nov 27 (KNN) Karnataka’s granite industry is struggling since the past two financial years as its exports worth Rs 2,000 crore dipped by 50 per cent and is expected to continue along similar lines this fiscal too.

This unprecedented slump started during the pandemic and was slowly recovering when the Ukraine-Russia war broke out, reported New Indian Express.

The already-troubled granite industry in Karnataka has now been hit by the ongoing conflict between Hamas and Israel.

Granite exports from Karnataka, Andhra Pradesh, Tamil Nadu, Rajasthan, Odisha and Gujarat to the US, China, Taiwan, Europe (particularly Italy) and the Middle East total Rs 12,000 crore annually, said S Krishna Prasad, General Secretary, Federation of Indian Granite & Stone Industry (FIGSI).

“Of this, Karnataka’s exports work out to nearly Rs 2,000 crore. But during 2021-22 and 2022-23, it nosedived to just Rs 1,000 crore due to multiple international issues. The general slowdown which began during Covid and then the Ukraine war has worsened due to the ongoing Palestine-Israel war. Orders from the Middle East have completely dried up,” said Prasad, who also owns quarries in the state.

“Red granite from Ilkal was much sought after. Medium quality granite from Rajasthan and Karnataka used to be in demand in Russia, while the US would seek polished slabs and granite. The state used to send granite to Europe mainly to be used for tombstones,” he explained.

The proliferation of artificial granite (quartz) has also eaten into our business, he added.

The absence of international demand has resulted in a considerable number of granite processing units in the state shutting shop. “Closure of units mainly in Jigani, Bommasandra and Attibele have cost at least 1,000 jobs,” he said. “The international slump has prevented us from taking advantage of the new mining policy in Karnataka,” he added.

(KNN Bureau)