Furniture with Indian accent : A Revival
From block-printed almirahs and jewel-toned wooden hangings to Colonial era teak furniture and diaphanous trunks, Indian furniture is as diverse as it is beautiful. Trying to define “Furniture with Indian accent ” is a futile and reductionist endeavor even for an expert. Indian-inspired furnishings today have happily become mainstream in the Global market. But still the stores or the luxury businesses have only scratched the surface of India’s robust home decor. Nowadays, the world is keen to incorporate Indian design — both traditional and contemporary — into their homes, offices etc.
The furniture with Indian accent is also known for its ornate, traditional patterns, often etched into metals and woodwork. It’s no wonder, that the luxuries with Indian accents would soon etch entire visual stories into the furniture business.
Market Capitalisation :
The Indian wooden furniture industry is able to generate approximately a turnover of Rs 3,500 crore annually. The market of luxury Indian style furniture solely owns the share of nearly Rs 60 crore. And as per one of the surveys done recently, the industry is expected to grow by 20 % in the coming times.
●Share of the Indian accent furniture market is around Rs 60 crore (Rs 600 million).
●According to a World Bank study, the organised furniture industry is expected to grow by 20% a year and India, Russia and Brazil will witness a boom.
●The range of indigenous furniture includes both residential and contract system furniture, with an increased concentration in office and kitchen furniture.
●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 tier A, B and C cities.
●It has been estimated that the top 784 urban centres contribute 41% to the total consumer luxury furniture market of which A and B type cities together contribute a significant 33% .
●First is the abundant supply of raw materials. India is home to some of the largest rainforests in the world, particularly in the central, northern and southern parts of the country. A variety of tree species are available, including teak, mango and mahogany. Haryana state is the major sourcing hub for sheesham wood, which is mostly used for cabinets and paneling.
●Plastic and steel are available in the heavily industrialized Uttar Pradesh and Maharashtra states. Bamboo, rattan and other natural components can be procured throughout the nation.
●Another competitive advantage enjoyed by the sector is a wide pool of highly skilled artisans who are adept in contemporary and traditional designs. These craftsmen have gained expertise in various manual processes, including carving, painting and finishing.