The Indian woodworking and furniture manufacturing industry is pegged at a massive $ 20 billion in size and employs more than 3,00,000 people in the organised sector. The furniture sector in India makes a marginal contribution to the Gross Domestic Product (GDP), representing about 0.5 per cent of the total GDP. On a per capita basis, the market is still under penetrated compared to more matured markets.
The Indian furniture Industry is valued at being the 14th largest furniture market in the world driven largely by the increasing income levels and influence of global lifestyle trends making the wood and furniture industry one of the most attractive investment opportunities.
In order to conserve forests, cutting of soft jungle wood has been banned by the Indian Government and this offers wide opportunity for timber exporters from other countries to enter the Indian timber trading market. Already our woodworking shows are represented by various International timber councils like American Hardwood Export Council, American Softwood, French Timber, Canadian Timber, Malaysian Timber council, etc. With more than 67+ countries already exporting sawn timber and wood based materials to India this product segment will attract more international companies to India. According to the Department of commerce, in the year 2014 – 2015, India has witnessed an import of USD 225 million in this product segment.