Exports offer cushion to ceramic industry

  • 03-Sep-2020
  • Exports offer cushion to ceramic industry

Even as domestic demand continues to remain stagnant, the export market has provided a much needed cushion to the ceramic tile makers in Morbi, the biggest hub of ceramic tile manufacturing in India.

Despite challenges posed by the Covid-19 pandemic and the nation-wide lockdown to control its spread, ceramic tile makers managed to export tiles worth Rs 2,700 crore in the April-July period, say industry players. The exports were more or less the same in the first four months of the previous fiscal.

Ceramic tile exports from Morbi stood at approximately Rs 12,000 crore in fiscal 2019-20, which put the quarterly exports at roughly Rs 3,000 crore.

“The export performance assumes even greater importance as there was not much traction in April and May on account of the lockdown,” said K G Kundariya, past president, Morbi Ceramic Association (MCA). “Most of the exports have been achieved in the months of June and July,” Kundariya said. His company, Wintel Ceramics Private Limited, exported ceramic tiles worth Rs 100 crore during April and July.

According to industry players, ceramic tile makers received export orders from the US, the UK, Indonesia, Mexico and Eurropean as well as Middle Eastern countries.

“Although we are quite competitive in the export market, the export market, the anti-China sentiment in several countries has also helped us secure more orders,” said Nilesh Jetpariy, president, wall tiles division, Morbi Ceramics Association(MCA). “The exports have improved significantly over the past two months,” Jetpariya said.

Israel company to acquire Morbi business: Nasdaq-listed Caesarstone Limited has entered into an agreement to acquire a majority stake in Morbi-based Lioli Ceramica Private Limited, which manufactures countertop slabs.

As part of the deal, Caesarstone will make a cash investment of approximately Rs 160 crore in Lioli Ceramica based on the achievement of certain milestones. While Caesarstone is based in Israel, the company has huge presence in the US market, said people in the know.

Source:- Timesofindia.indiatimes.com

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