India Reports

Home Furnishing Industry in India - Summary

Title
Date
No of pages

Overview of Home Furnishing Industry in India

Nov 2008
13

The textile industry in India is one of the largest contributors to industrial production in India and Home Furnishing form a major chunk of this industry.

India is one of the leading producers and exporters of home furnishings from bed, bath, kitchen linen to window dressing to dhurries, carpets and rugs. India is the world leader in carpet exports, with a 36% market share.

The global home furnishing retail industry is pegged at 502.9 billion $US. Europe has the biggest share of this with 49.3% followed by the US at 22.4% and Asia-Pacific at 20.9% India is becoming the number one supplier in most categories striving to produce eco friendly products. No banned substances are used in production of home furnishings in India.

The domestic market for home furnishing is at 9300 crores with the organized sector forming just 6% of this. Due to the rising incomes of the middle class, the domestic market has got a big boost in sales. The growth drivers in the domestic segment are the rapid urbanization and retail impetus to the home furnishing segment.

The various home furnishing manufacturing centers are spread across various states depending on the specialization from cotton, silk, jute to woollen.

New trade policies and varying tarrifs are bringing out changes in the market. Many international players are poised to enter the market. The market is also slowly moving from largely unbranded to branded textiles. The major players are Bombay Dyeing, Welspun, Portico, Rosebys, Kids at Home, Kurl On, Westside, Star.

Inflation has resulted in severe losses, but given that India is a leader in the segment, the industry is expected to look up, once inflation comes down.

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