The Federation of Indian Granite and Stone Industry (FIGSI) has sought long-term quarry leases ranging from 30 to 50 years with guaranteed renewals for the sector’s survival.

R Sekar, President, FIGSI, addressing reporters to announce Stona-2018, the 13th International Granites and Stone Fair in Bengaluru, said policy support from the government is crucial for the industry’s survival as exports have crossed $2.2 billion (₹14,000 crore) in 2016 and is set to go higher this year.

Listing out other policy measures needed for the growth of the industry, Sekar said they are: Royalties to be reduced to match global rates. Grant of quarry leases in a time bound manner within 90-120 days. Import of granite blocks to be brought under OGL (open general licence) and reduce GST to 5 per cent on blocks and 12 per cent on slabs and tiles.

Sekar said the Stona fair is well-known in the international market and it now stands fourth in global fairs after Xiamen in China, Verona in Italy and Izmir in Turkey.

“When the first Stona was launched in 1987, Indian exports was around ₹50 crore and after Stona-2016, the industry has crossed ₹14,000 crore, which clearly shows the contribution of the Stona fairs,” said Ishwinder Singh, Chairman, Stona 2018.

“This year’s is the largest stone fair with a gross area of 60,000 sq metres which is being occupied by about 650 exhibitors from India and abroad,” he added.

“This year we are having country pavilion from Turkey, China and Italy and individual exhibitors from Morocco, Tunisia, Portugal, Oman , Spain, Germany, Iran and many other countries,” he said.

Shekar said India has the second largest deposit of natural stones in the world with 15 per cent of the world natural stone reserves, which is about 46.23 billion cubic metres.

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