New Delhi, Rajiv Kumar. Preparations for India’s entry into the world’s furniture market are in full swing these days. At present, India’s share in the global furniture export market is not even one percent. India also wants to reduce the one billion dollar furniture imports from China, so that the houses built in India’s hotels and big housing projects can be decorated with furniture, not of China.
The Ministry of Commerce and Industry has formed a committee of experts for the development of furniture industry in view of the huge potential of export and domestic market. Andhra Pradesh and Tamil Nadu have also selected the location and land for furniture cluster construction. At the same time, the Uttar Pradesh government has also offered land to the Trade Promotion Council of India (TPCI) to develop a furniture cluster in Pilibhit.
How big is the market
According to experts, the organized market for furniture in India is just 5 billion dollars. Of this, India exports $ 1.6 billion. In fact, this export is made of wood-made handicrafts items which have been included in furniture exports. The global furniture export market is worth $ 246 billion and the five countries account for more than 50 percent of the export market. China is at number one with exports of $ 75 billion, followed by Germany and Poland at second and third position with exports of $ 19 and 17 billion.
What is Scope for India
Foreign trade experts said that ten years ago, Vietnam’s furniture exports were less than one billion dollars, which now stands at $ 10.6 billion. Vietnam mainly benefited from the trade wars of China and America. Mohit Singla, chairman of TPCI, says America and Canada are the largest importers of furniture in the world and China exports 46 percent of its exports to these countries. Right now, India can easily increase furniture exports by taking advantage of the situation in America against China.
He said that on the request of TPCI, recently the Uttar Pradesh government has offered land for construction of furniture cluster in Pilibhit, but organized furniture makers in India say that cluster construction within 100 km from Delhi will benefit. Because most buyers of modern furniture are urban. While Andhra Pradesh has offered to develop a furniture park in an industrial area spread over 1500 acres, Tamil Nadu has offered land to build a furniture park in Thoothukudi district.
Furniture from India’s large hotel and housing projects come from China
Experts said that all the major hotels and housing projects in India are sourced from China. Demand for machine-made modern furniture in urban areas is increasing continuously. Traditional furniture is mainly made in India and only a few companies like Godrej make modern design furniture.