The Indian furniture industry the 14th largest market in the world has its origin steeped into over 3 centuries ago. It has from thereon being evolved with a plethora of players and a mind-boggling number of options to choose from. Although a bulk of it is from the unorganized sector, it is being considered by Index of Industrial Production (IIP) (Govt. of India – Ministry of Statistics and Programme Implementation) in 2018 showing positive signs of growth. This is being pegged at 13.2 % from the manufacture of furniture. In addition, according to the Hong Kong Trade Development Council, the Indian furniture has the potential to grow from its current US$ 18 billion to US$27 billion by 2022. Such is the relevance and this is not a new age phenomenon but the robust potential that the furniture industry poses itself goes to show the dynamic and versatile nature of its offerings.
Over in little over a decade the furniture industry has now various players are entering the market from the formal segment that is willing to take up the challenge and be the game-changer to others creating niche spaces such as rental furniture and allied goods such as ottomans. These include both home-grown brands – Godrej Interio, Usha Lexus Furniture, Pepperfry, Durain, Urban Ladder, Fabfurnish (prior to its merger with Home Town) as well as international ones (Style Spa and IKEA) that will provide customers with even better choices. What was restricted only to living room furniture and dining room table sets, choices have expanded to modular kitchens, teenage bedroom furniture, wall and T.V. units and garden décor furniture. Even office desk furniture as per a latest market study report, this segment is expected is projected to grow to USD 13.58 billion by 2021, at a CAGR of more than 20% over the forecast period
Today, a formidable platform is available at a national level through India International Furniture Fair (IIFF) which in its successful second year running plays host to the nation's furniture industry but also offers opportunities to its members' international exposure. This year poses options for pre-approved buyers, specific sections for instance office furniture and equipment. The sprawling 100,000 sq feet area gives one an inclining of an idea the nature and spread of this year's exhibition. International delegation and their members too have added in their numbers to attend giving renewed strength and robustness to the already existing vigor and vibrancy of this age-old but evergreen industry.