Gandhinagar, March 1 (IANS) Fuelled by the growing construction sector in the country and a rise in exports to the advanced nations, the Indian ceramic industry, which has the potential to be the largest producer in the world, is looking to double its turnover by 2021, according to industry experts.
With many new projects lined up in the country, the construction sector is growing at an approximate rate of 7 to 8 per cent. The demand for industrial ceramic products such as ceramic tiles, sanitary wares and pipes required in construction applications too are expected to increase.
The government has also announced an investment target of $376.5 billion in infrastructure by 2020. "Looking at all these factors, the ceramic industry expects a huge growth in volume," Tarun Marwah, Director, Messe Muenchen Ind, told IANS.
He said the ceramic industry is divided equally into two halves -- the first comprising the organised sector with the existence of a few large players, while the other comprising the unorganised sector.
The industry presently produces around 2.5 per cent of the total global output, in which Gujarat accounts for 70 per cent of the total output.
"But looking at the upcoming projects in the country and the increase in exports to major destinations like Saudi Arabia, Mexico, the USA and the European countries, we are looking to double the turnover by 2021. We have the potential to become the largest ceramic producer in the world," Marwah said.
He was talking on the sidelines of the three-day Indian Ceramics Asia 2019 Expo which kicked off at the Exhibition Centre here on Wednesday.
The exhibition, organised by Messe Muenchen India, brings together the best of raw materials, ancillary equipment, ceramic machinery, raw material manufacturers and technology suppliers from across the country and the world.
It features over 300 global and Indian companies and over 8,500 visitors are expected to attend the exhibition. The three-day event also includes a job fair, workshops, innovation exchanges and buyer-seller meets.
According to a market research report on the ceramic industry, the Morbi ceramic industry in Gujarat is likely to have an investment of Rs 1,500 crore in the first quarter of 2019 involving 50 new wall tiles manufacturing plants.
"Because of global recession, production in the ceramic industry world wide is going down. From 2015 to 2018, there were too many ceramic products without any buyers. So we need to find buyers, find out ways to export our products which will take a long time. But despite that the revenue is growing because of the upgradation in technology and improvement in quality," said Ken Wong, General Manager at Unified Exhibition Service.
"From China we have 120 companies participating in this three-day event. The relations between Chinese and Indian ceramic companies are growing stronger by the day. With new slab technology, 3D printing, glazing and inkjet printing, the industry is likely to grow in leaps and bounds," said Wong.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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