Ceramic industry loses its shine, more than 50 units in Gujarat shut down

According to ICRA, the Morbi cluster in Gujarat is the largest tiles manufacturing zone in India and accounts for about 75-80% of India’s tiles and sanitary ware products in volume terms, with more than 800 tile factories in the region.
But this industry is facing loss and losing its shine. Tile industry has already seen sharp price correction of about 30-40% over the past 18 months because of significant capacity addition in the Morbi region and slowdown in the real estate sector.