India: Woodworking, one of the fastest growing sectors in the economy

April 08, 2019
Source:
ITTO/Fordaq
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The organisers of DelhiWood 2019 have reported that over 500 exhibitors from 35 countries exhibited at the latest fair held 13-16 March at the Expo Centre and Mart in Greater Noida making it the biggest woodworking industry show in India.

The woodworking industry is one of the fastest growing sectors of the Indian economy and the World Bank has said output from India's organised furniture industry is expected to grow 20% annually for the next few years.

The aim of DelhiWood 2019 is to provide the technological support to spur this growth.

Multiple media sources in India are quoting a World Bank study which says India’s ‘organised‘ furniture sector could be worth US$32 billion in 2019 boosted by online sales.

The government’s ‘Housing-for-All‘ initiative, the development of smart cities and growth in the tourism and hospitality sectors will also drive furniture demand.

However, when assuming power five years ago, the new government promised that every Indian will have a home to live in by 2022 but, while millions of new homes have been planned and approved to deal with India's homelessness problem, many remain to be built. This issue, amongst others, is at the core of campaigning for the upcoming election.