The Indian granite and natural stone industry is in dire straits. With its major markets including the US and Europe badly hit by recession, the stone industry in the large developing countries is clueless on survival other than seeking government assistance. According to various reports, nearly three hundred stone businesses in Hosur, Bangalore and Hyderabad are on the verge of being closed  down . In Tamil Nadu, more than 30 quarries out of  165 in total are closed. It is estimated that granite exports this year will be significantly less than in the fiscal year of 2007-08.

Granite and stone importing countries such as the US, China, Italy have largely reduced their demands. According to experts, India's granite and natural stone exports could be down by 15-20 percent this year.

Over the last several decades, the Indian granite industry has been greatly modernized to meet global standards. Fabricated stones, sculptures and monuments made in India have been exporting to the countries all over the world. With its skilled manpower and advanced stone technology, India has contributed to the world prestigious monuments such as the Holocaust Museum and the Vietnam War Memorial in Washington; Hiroshima Atom Bomb Memorial in Japan and Black Forest of Germany. However, the global recession has dampened India's hopes for sustained growth in stone exportations. The industry is finding the ways of survival.