MUMBAIWOOD 2023

Stimulating economic activities in the furniture manufacturing and woodworking industries in India

Over the next few months, the furniture manufacturing and woodworking industry will need to operate alongside COVID-19 by building the competence to manage rough, dynamic, and restricted lockdowns and restarts.

The current pandemic situation is an unprecedented challenge for any industries across the globe. Economic studies reveal that India has functioned at about 50 – 53% between March and April 2020 amid lockdown across the country. Industry’s supply chains requires a targeted approach during this difficult times as manufacturing, labour, and distribution chains are entwined across product groups and states.

Buyers across the globe have already shifted to India to source products such as furniture, ceramics, fashion, and lifestyle goods. The global recession followed by the pandemic will force world economies to look out for low-cost solutions or outsourcing, irrespective of verticals which will also offer enough opportunities for our furniture manufacturing industries in India.

Already the world is paying a heavy price for their dependency on one or less nations for everything. This realisation of dependency has instilled a shift in buyer-seller psychology. It is an apt time for the industry to rise up to the challenge and become a nation of quality supplier of manufactured goods, be it finished furniture / wood based products, hardware and fittings, woodworking machinery, panel boards, laminates etc. Having said that, India by itself has to shed its dependencies to fill the global void, which is of course possible, provided we as an industry work towards realising our economic dreams with sweeping innovations in the sector.