ITALY – Part of the CSIL Country Furniture Outlook Series, covering 100 countries at present, this report provides key facts of the Indian furniture sector, trends in furniture consumption and production, CSIL’s assessment of market potential and prospects for the coming years.

India is one of the largest and fastest-growing economies in the world. The steady increase in the Indian economy and growing spending powers have fuelled the development of the furniture market in the last decade.

The market, growing annually at an average rate of 7%, has reached in 2018 a new peak of more than USD 15 billion. India, which ranked 10th in 2008, represents currently the 4th furniture market among the main furniture markets of the world.

The bulk of the market goes to the unorganized sector. However, with liberalization, with an increasing number of foreign companies going to India, and with the expansion of online sales, the organized sector evolved significantly and expanded its market share over the past decade.

Furthermore, the recent entry of Ikea into India, is expected to push the country’s unorganized furniture segment to the organized sector and accelerate expansion of the manufacturing base.