India is reckoned as one of the few countries in the world, taking into account the sizeable extent of inflow of foreign exchange into the country through exports of granite slabs and monuments, the Government of India and the State Governments offered certain concessions by way of incentives to promote granite export. Government of India permitted the establishment of 100% Export-oriented Units (EOU) by providing excise duty exemptions in respect of the exported commodity, and prescribing certain norms for value addition & export obligation to be achieved in terms of the Exim Policy for five-year period 1992-97. State Governments also allowed by creating Export Promotion Zones, and granting mining leases to interested entrepreneurs. " Indiana" is one of the pioneers to develop the mining of black granite stone in "Kunnum" area near Tindivanam in Tamilnadu, which later on, came to be known as the best granite in India.

Considering the existence of a huge reserve of different varieties of granites estimated at about 65.6 million cubic meters in India, the majority of which are situated in southern States of the country, Indiana has diversified its activities in the field of granite mining also. The export of granite from India which began in the late sixties, received a major boost in 1976 followed by the establishment of various processing Units, i.e., cutting & polishing units etc. Indiana has shown keen interest in granite mining operations by associating with a Company in the Southern State of Tamilnadu which was one of the pioneers in promoting exports of Indian granite to Japan in the early Seventies, through the introduction of a very fine variety of granite stone, popularly known as "KUNNUM BLACK" material.

The company owns three quarries around the southern metropolitan city of Madras (presently, re-named as Chennai) in the State of Tamilnadu. These quarries have black granite of high quality, used in the manufacture of Monuments, Markers and Constructions material of 30 to 35 cubic meters. One of the quarries, viz., Munnur quarry, located near Tindivanam town at a distance of about 150kms from Chennai, is very promising and fully developed where premium quality of rich sheet-rock is available in abundance for exports. The relevant details regarding these quarries, quality of materials etc., are annexed as Annexure - I.

In view of the existing demand and sizeable foreign market potential, Indiana hopes to export granite to many countries in the West as well as in the East, and is quite keen to carry out expansion in the industry. The Granite division of the Indiana group is also having well-equipped Granite Monument Processing 100% Export-oriented unit, with the latest generation machinery acquired from M/s Fickert & Winterling of Germany, which is suitable for production of cut and polished monuments of high quality and of required size with precision and accuracy, having a smooth surface and mirror-like finish. Other machines such as (i) automatic grinding and polishing machine, (ii) bridge sawing machine with diamond saw blades for polishing slabs of 30-35cms., and (iii) flexible shaft grinding and polishing unit for polishing edges of slabs and monument tops have also been installed. With the adoption of modern techniques, it will be possible for Indiana Group to export granite monuments of excellent quality by strictly adhering to delivery Schedules to cater to customers requirements.

Acquisition of larger areas for mining of granite stone is also under contemplation, so as to have access to huge quantities of waste granite. With its well-established market base, the group is very keen to carry out further expansion in the stone Industry.

While the dynamic team of professionals with their management expertise ensures smooth co-ordination between various stages of procurement and processing, Indiana's precise quality control procedures guarantee the buyers a product consistent with the desired quality and durability well within strict time frames. Hence the project is technically feasible and economically viable for production of monuments.

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