The Hong Kong Trade Development Council (HKTDC) has predicted that India would emerge as a huge furniture market in Asia in the years to come.
According to HKTDC, the Indian furniture market would value more than US $ 27 billion by 2022. It was US $ 18 billion in 2015. The rise in demand will outshine supply and make India a prospective market for furniture exporters in Asia.
The Council further informed that furniture and home furnishing products worth around US $ 1.49 billion were imported in the financial year 2015-16 due to increase in demand for contemporary designs among Indian consumers.
Consciousness among homeowners for stylish interiors and beautiful indoors has also given an impetus to the home market. Additionally, India is one of the biggest importers of office furniture.
China (75,930 tonnes), Malaysia (13,004 tonnes) and Italy (9,441 tonnes) have been the three biggest sources of Indian imports of furniture and home furnishings.
The Swedish home furnishing retailer IKEA has too sensed the potential of the Indian market. The company is set to open its maiden store in the country next year. It plans to establish India as the global manufacturing hub for its products.
Bharat Tex Special Report 2026 
