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Huge potential for domestic ceramic exporters in Russia: TPCI
Russia is a growing market for ceramics, and domestic exporters should exploit this opportunity to push their shipments and increase the share in the global trade, TPCI said on Thursday. Trade Promotion Council of India (TPCI) said the burgeoning ceramic market of Russia is a big opportunity for Indian exporters to capitalize trade.
New Delhi
In terms of value, India's total exports of ceramic stood at USD 1.9 billion in 2020.
Russia is the world's 12th largest importer of ceramic products, with its import demand increasing at a CAGR (Compounded Annual Growth Rate) of 7.5 per cent during 2016-20, the council said in a statement.
It added that Russia's total import of ceramics from the world in 2020 stood at USD 932 million and India's supply to this market has increased from USD 10.7 million in 2016 to USD 32.9 million in 2020.
"A report by the Directorate General of Commercial Intelligence and Statistics (DGCI&S) has identified ceramic products as a highly potential sector to boost India's exports to Russia. In 2020, India was the fifth largest exporter of ceramic products, accounting for 3.5 per cent of world exports," it added.
On October 5, TPCI organised the India-Russia Ceramic Buyers Sellers Meet in Moscow in collaboration with the Embassy of India there.
It was inaugurated by Gina Uika, Deputy Chief of Mission, Embassy of India in Moscow.
Uika has said Russia is a growing market for ceramics which Indian tiles manufacturers can easily leverage.
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