Furniture industry: A sunshine sector for India
Furniture industry: A sunshine sector for India The Indian furniture market is now more customer-friendly. As per market demand, players are supplying readymade, branded furniture with low maintenance, which is quickly installable with customisation options. The Indian furniture manufacturing sector mainly caters to home, office & hospitality sectors. Though they try to meet domestic demand, India’s imports are growing at a rapid pace. With the fast growing and transforming retail sector, it is expected that large retailers will continue to expand their presence, leading to consolidation in furniture retailing in urban markets. The Indian domestic furniture market is expected to expand at a CAGR of 12.91% during 2020-24. Various furniture companies such as Pepperfry, Urban ladder and others are creating huge demand from these online channels. Apart from this, the demand for low-cost plastic furniture is also increasing in commercial sector. Ease of doing business policies in...