India’s small steps

It is evident that China is crucial for the Turkish natural stone industry. The country alone corresponds to 50% of Turkey’s total export income from natural stone. However, the infamous regression in China from April 2018 onwards, is known by everyone. For this reason, eyes turn at new alternatives. When we take a look at the scene, we see that India is the best alternative. But how is the situation in India? Let us analyze the statistics and examine the last five years of this critical market.4

The income in 2018 is $90.2 million

Let us start with the front side of the coin. The Indian market is growing. In 2013, the total amount of income earned by Turkey was recorded as $46,372,486 in exchange for a natural stone export of 159.369 tons. In 2018, however, Turkey exported 457.733 tons of natural stone and earned $90,236,658. Put in numbers, the five-year increase in income from India is 94.6%.4

The quotas are no more

However, the growth barely meets the high expectations of the industry. As you know, the removal of the import quotas of India in 2016 had excited the Turkish natural stone sector. The country’s growing economy made many think that India would shortly become a rival for China. However, considering that the market could not even surpass the $100 million barrier, it is unlikely that India will challenge China.4

Income per ton decreases

The Indian market does not offer a beautiful scene in the income per ton since there is a significant decrease. Turkey used to earn $209.9 for each ton of natural stone exported to India in 2013, whereas in 2018, the number decreased to $197.1. Long story short, the Turkish natural stone industry sells a lot but earns little. The fact that the amount of stone we must export increased by 187.2%, while the amount of income we received increases by 94 .6%, reveals it all.