Indo - Italian Trade: Riding On A High Tide
Article Date: 01.04.2018
Italy made a strong presence at STONA 2018, with 16 of its leading companies under Italian Pavilion, organised by Italian Trade Commission, New Delhi in collaboration with Confindustria Marmomacchine (Italian Association of Producers and Processors of Marbles, Granites and Natural Stones and of Manufacturers of Complete Machinery Plants, Tools and Complementary Products to quarry and processing Natural stones) which includes following companies- Basaltina, Bianco Carrara Trading, Consorzio Produttori Marmo Botticino Classico, Diamond Service, Dellas, Donatoni Macchine, Fionda Marmi Murgia Project, Fraccaroli & Balzan, GDA Marmi e graniti, GV Orosei Marbles, Intermac, Margraf Spa, Montresor, Ocem-Longinotti Firenze, Pizzul Marmi Aurisina, Sardegna Marmi.
According to Dr. Francesco Pensabene, Italian Trade Commissioner, Embassy of Italy in India, participating at STONA 2018 is a very attractive offer as India has a tremendous potential for Italian technology. Participation in earlier editions has had very good business opportunities as Indian and Italian companies are able to develop strong mutually beneficial associations. This fair has always opened up new avenues for Italian companies.
Italy's export to India was Euro 3,278 million in 2016, which showed a very positive growth of 9.3% and reached to Euro 3,576 million. Whereas the total trade exchange in year 2017 increased by 13.8% in year 2017 and stood at Euro 8,723 million, compared to Euro 7,517 million in year 2016.
Whereas in Stona sector, according to data compiled by Marmomacchine Confindustria Study Center, in the first nine months of 2017, Italian exports of marble and other ornamental stone blocks towards the Indian market is in fact grew by 43.3%, totaling EUR 62.2 million , a figure that ranked India second overall among the sectoral customers after China.
Considerable growth confirmation also for our exports of machines, equipment and tools for the mining and processing of natural stones aimed at companies of the Indian stone industry, which in January-September 2017 totalled EUR 46.2 million, an increase of 203.5%, which traces the subcontinent in fourth place among the countries of destination of stone technologies "Made in Italy".
The stone trade between India and Italy is expected to grow further because India has a huge marble and granite industry, estimated to be around € 5 billion. The estimated total reserves of marble in India stand at 1,931 million tonnes, out of which 64% are in Rajasthan and 21% in Jammu and Kashmir. Around 50% of the granite produced in India is exported. India is having over 20,000 stone processing units in various parts of the country. The machinery imports for the segment reached € 137 million in 2015-16 with Italy having a steady 26% share.
The Indian stones also include slates, sandstones, lime-stones and quartites etc. India has advanced to the highest international level in its quarrying and processing techniques and capacity and has established its own status in the world with large exports. It has a very large domestic market for all types of stones. Product ranges from cubes, size stones, pavement slabs, standard slabs and tiles, monuments, memorials and made to order items.
India has a tremendous potential for Italian technology. While Indian stones are supplied to more than 25 countries, but many of the processing units are using obsolete technology for excavation and stone processing. Our participation at STONA 2018 has always opened up new avenues for Italian companies and would be able to develop a strong mutually beneficial association for both countries.