FTAs with UK, EU, UAE seen lifting India's $30B furniture sector; IKEA, Nipponply scale local sourcing
India's recent free trade pacts with the UAE, Australia, EFTA, UK and EU are positioning the $30B domestic furniture industry for export-led growth. Nipponply and Bharat Cluster Ventures eye outbound expansion, while IKEA sets up an India product development arm to deepen local sourcing. India ranks 16th in global furniture exports with a 1% share.
India's recent FTAs with UAE, Australia, EFTA, UK and EU are set to boost furniture exports and domestic manufacturing. Players like Nipponply and BCVPL eye export growth; IKEA is setting up an India product development arm for local sourcing.
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