Tropical timbers are popular in the building industry and are of growing interest to Indian furniture manufacturers.
With IKEA having finalised its investment in India the furniture sector as a whole has been given a boost and domestic manufacturers are retooling to become more competitive. Already some plants have world class production capacity.
Seeing the opportunities in the furniture industry, Hettich, one of the leading manufacturers of furniture fittings, has opened a Rs. 1 billion ($16 million) state-of-the-art production facility in Gujarat. The company has announced plans for Rs.5 billion ($81 million) 5 year investment plan for manufacturing in India.
The maturing of furniture industry in India will boost domestic consumption of wood and wood products and increased exports will boost earnings by the sector.