Ceramic industry to double turnover to Rs. 50,000 crore by 2020
New Delhi: India's ceramic industry is looking to almost double its turnover to Rs 50,000 crore by 2020, driven by rising domestic consumption and exports to the Middle-East, Europe and other newer destinations.
The manufacturers are poised to compete with China in the global ceramic market, which is a lead exporter with 40 per cent market share, by expanding product portfolio and scouting for new geographies. To attract more business and global customers, Gujarat- based Morbi Ceramic Cluster, a leading player, is organising the second edition of 'Vibrant Ceramics'.
"The ceramics industry is looking at growth of 200 per cent by 2020 at Rs 50,000 crore, from Rs 25,000 crore at present," Vibrant Ceramics 2017 President Nilesh Jetpariya said.
The industry employs more than 10 lakh skilled and unskilled personnel, he added.
"We are looking for at least 50 per cent growth in production and value this year," said Jetpariya.