The Actual Scenario

Furniture Industry in India

The Indian furniture industry is estimated to be several billion rupees. The share of the wooden furniture market is around 600 million rupees. The world home furniture market is worth Rs 20 crores. During the past three years, it grew by 20 percent a year.

Studies have revealed that the organized furniture industry will grow by over 20 percent a year and India will witness a boom. There is a wide range of indigenous furniture available in India and it includes both residential and contract system furniture, with an increased emphasis on office and kitchen furniture.

Manufacturers in India use a multiple layer of selling and distribution structure, comprising the distributor, wholesaler, and retailer. India was the biggest furniture importer a few years back with a 17 percent share in furniture imports worldwide. Several dozen countries exported their furniture during this period.

European and Asian countries are leading exporters to India. The furniture market in India is spread far and wide. The Furniture market in India has grown tremendously over the years and there is a huge demand for imported furniture alongside domestically manufactured furniture.

The Indian furniture market has the huge potential to grow at an alarming rate and in the coming years, it is expected that demand would overtake supply for imported furniture products. Nevertheless, Indian furniture commands huge demand and there is no lack of quality products on offer.

With the onset of liberalization and opening of the Indian economy more and more entities have started importing foreign-made furniture offer a wide range of products to ever-burgeoning middle-class sections of the society. People’s choices have widened so do their spending habits.

The current situation is that India still imports foreign-made furniture to meets its domestic demand since furniture is rarely exported and most of the manufacturers sell domestically to compete with their foreign counterparts.