The Indian furniture industry is estimated at around Rs 35,000 crore (Rs 350 billion). Eighty-five per cent of this falls into the unorganised sector.
- The share of the wooden furniture market is around Rs 60 crore (Rs 600 million).
- The world home furniture market is worth Rs 20,000 crore (Rs 200 billion). During the past three years, it grew by 20 per cent a year.
- According to a World Bank study, the organised furniture industry is expected to grow by 20 per cent a year and India, Russia and Brazil will witness a boom.
- The range of indigenous furniture available in India includes both residential and contract system furniture, with an increased concentration in office and kitchen furniture.
- Manufacturers in India generally use a three-tier selling and distribution structure, comprising the distributor, wholesaler and retailer.
- India was the biggest furniture importer in 2004-05, with a 17 per cent share in furniture imports worldwide. A total of 10,476 importers shipped furniture to India during this period.
- The current imports are mainly from Italy, Germany, Spain, China, Korea, Malaysia, Indonesia, the Philippines and Japan.
- The furniture market in India is mainly concentrated in A, B and C cities (the top 589 cities).
- It has been estimated that the top 784 urban centres contribute 41 per cent to the total consumer furniture market. A and B type cities together contribute 33 per cent of the total market.
KIT by KSA Technopak
Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Discussion Group.