- INDUSTRY TRENDS
The furniture industry in India is estimated to be worth Euro 5 Billion as on April 2007. Within this the wooden furniture accounts for Euro 750 million. Of this the imported furniture market is currently worth Euro 75 million and is growing at 50 - 60% each year.The furniture sector in India only makes a marginal contribution to the GDP,representing about 0.5 per cent of the total GDP. The major part of this industry is in the informal sector that is, about 85%. The remaining 15% is in the formal sector and is made up of manufactures and importers catering to the various segment of the industry.
It can be classified on the basis of:
It comprises mainly sofas, dining tables and seating, professional production is destined for offices and companies and the institutional furniture sector serves mainly hotels, schools and hospitals.
Types of Raw Material:
About 65% of the furniture produced in India is in wood, 25% in metal and the remaining 10% in plastic.
Home and Garden Furniture