Recession, T stir hit granite industry
Post Date: 15 Jan 2010 Viewed: 553
First it was the global recession. Then came the Telangana agitation and with it the frequent bandhs spelling doom to the multi-crore granite industry in the district.
With 314 cutting and polishing units coupled with 200 granite tile units, the district has had a robust economy until recently.
It is estimated that more than 1 lakh sq.feet of the famous black granite is produced in the district fetching a revenue of around Rs 21 crore of direct revenue from the industry while the dependent market gets a revenue of another Rs 10 crore in terms of transport industry and the labour.
While the slabs are much sought-after in China and Japan outside the country and Gujarat, Maharashtra and Delhi within the country, they are exported mainly to Gulf countries to feed the burgeoning real estate in those countries till recently.
The granite industry was affected by global recession last year resulting in a loss of over Rs 6 crore. Now, 30 per cent of stocks, worth Rs 6 crore, lie unexported due to lack of exports on account of recession.
Besides, the labour in most of the 294 odd mines have also stopped mining thanks to the cutting units and polishing units having been shut down temporarily.
It is also estimated by the industry that another 15 cutting and polishing industries besides some tile industries are on the verge of closing shop, just as 20 odd units are unable to survive the recession.
Keeping this in view, the industrialists urge the Government to take a quick decision to ensure that the industry is not affected anymore.