But the industry executives at the asbestos conference, held in a luxury New Delhi hotel, said the risks are overblown.
Instead, they described their business as a form of social welfare for hundreds of thousands of impoverished Indians still living in flimsy, mud-and-thatch huts.
"We're here not only to run our businesses, but to also serve the nation," said Abhaya Shankar, a director of India's Asbestos Cement Products Manufacturers Association.
Yet there are some poor Indians trying to keep asbestos out of their communities.
In the farming village of Vaishali, in the eastern state of Bihar, residents became outraged by the construction of an asbestos factory in their backyard.
They had learned about the dangers of asbestos from a school boy's science textbooks, and worried asbestos fibers would blow into their tiny thatch homes. Their children, they said, could contract lung diseases most Indian doctors would never test for, let alone treat.
They petitioned for the factory to be halted. But in December 2012, its permit was renewed, inciting thousands to rally on a main road for 11 hours. Amid the chaos, a few dozen villagers demolished the partially built factory.
"It was a moment of desperation," a teacher said on condition of anonymity for fear of retribution from the company. "There was no other way for us to express our outrage." The company later filed lawsuits, still pending, accusing several villagers of vandalism and theft.
Durable and heat-resistant, asbestos was long a favorite insulation material in the West.
Medical experts say inhaling any form of asbestos can lead to deadly diseases 20-40 years later including lung cancer, mesothelioma and asbestosis, or the scarring of the lungs.
Dozens of countries including Japan, Argentina and all European Union nations have banned it entirely. Others like the U.S. have severely curtailed its use.
The asbestos lobby says the mineral has been unfairly maligned by Western nations that used it irresponsibly. It also says one of the six forms of asbestos is safe: chrysotile, or white asbestos, which accounts for more than 95 percent of all asbestos used since 1900.
Medical experts reject this.