PHOTOS BY P.K.ANANTH KUMAR
FIGSI Advocates – One Nation One Mineral One Policy
Bengaluru Feb 7, 2025: The Indian natural stone industry, a vital contributor to the country’s economy and cultural heritage, is gearing up for STONA 2025, India’s premier international stone fair at the Bangalore International Exhibition Centre (BIEC), Tumkur Road.
As the industry navigates regulatory hurdles, supply chain disruptions, and international competition, STONA 2025 promises to be a beacon of hope and growth.
“We are excited to host STONA 2025, which will bring together industry stakeholders, innovators, and enthusiasts from around the world,” said Mr. Krishna Prasad, President, Federation of Indian Granite and Stone Industry (FIGSI). “This event will showcase India’s rich natural stone heritage and provide a platform for businesses to connect, collaborate, and grow.”
Challenges Facing the Industry
Despite its potential, the Indian natural stone industry faces several challenges. “The industry is struggling with raw material shortages, regulatory bottlenecks, and unfair competition from artificial materials,” said Mr. Krishna Prasad, President, FIGSI. “We need to conducive atmosphere for the industry to perform and deliver. This requires serious attention towards the Stone industry to solve the issues faced and also the implementation of best practises around the world to ensure level playing field.”
Policy Reforms and Industry Advocacy
FIGSI has been advocating for key policy changes, including granting quarry leases to 50 years with guaranteed renewals, rationalizing royalty rates, and reducing GST on raw blocks and slabs. “We believe there should be the reforms like “One Nation One Mineral One Policy” which will help the industry achieve its full potential and contribute significantly to India’s economic growth,” said Mr. Krishna Prasad, President, FIGSI.
Leveraging Technology and Skill Development
To address the shortage of skilled personnel, FIGSI has comeup with two state-of-the-art training and skill development centres in Hosur, Tamil Nadu and Jaipur, Rajasthan. “We are committed to bridging the skills gap and ensuring a steady supply of skilled professionals to the industry,” said Mr. Krishna Prasad, President, FIGSI.
