India Granite Block Exports
In 2024, approx. 764K tons of granite blocks and slabs were exported from India; with a decrease of -8.4% compared with the year before. Overall, total exports indicated resilient growth from 2014 to 2024: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports decreased by -15.0% against 2021 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 41% against the previous year. As a result, the exports reached the peak of 899K tons. From 2022 to 2024, the growth of the exports remained at a somewhat lower figure.
In value terms, granite block exports fell to $116M (IndexBox estimates) in 2024. In general, total exports indicated prominent growth from 2014 to 2024: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +2.3% against 2022 indices. The growth pace
was the most rapid in 2021 when exports increased by 32%. As a result, the exports attained the peak of $151M. From 2022 to 2024, the growth of the exports remained at a lower figure.
Exports by Country
China (625K tons) was the main destination for granite block exports from India, with a 82% share of total exports. Moreover, granite block exports to China exceeded the volume sent to the second major destination, Algeria (48K tons), more than tenfold. the United Arab Emirates (15K tons) ranked third in terms of total exports with a 2% share.
From 2014 to 2024, the average annual rate of growth in terms of volume to China amounted to +7.9%.
Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (+75.9% per year) and the United Arab Emirates (+27.4% per year).
In value terms, China ($78M) remains the key foreign market for granite blocks and slabs exports from India, comprising 68% of total exports. The second position in the ranking was held by Algeria ($17M), with a 15% share of total exports. It was followed by the United Arab Emirates, with a 2.7% share.
From 2014 to 2024, the average annual rate of growth in terms of value to China amounted to +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (+74.8% per year) and the United Arab Emirates (+29.8% per year).
Export Prices by Country
In 2024, the granite block price stood at $152 per ton (FOB, India), approximately equating the previous year.
Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 17%. Over the period under review, the average export prices attained the peak figure at $179 per ton in 2020; however, from 2021 to 2024, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2024, amid the top suppliers, the country with the highest price was the United States ($793 per ton), while the average price for exports to Bangladesh ($91 per ton) was amongst the lowest.
From 2014 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+28.6%), while the prices for the other major destinations experienced mixed trend patterns.
