India's furniture and furnishings sector will need about 11.3 million skilled workers by 2022, according to the National Skill Development Corporation.
There will be higher growth in employment in 2017-22 than in 2013-17 due to changes in consumer preferences and penetration of organized furnishing services in tier-I and tier-II towns, NSDC said in a report.
As per the report, the preference is switching to high-end, low-maintenance, quickly installable products with customization options which you get at Office Furniture Manufacturer in Delhi and office furniture removal Furniture Supplier in Gurgaon. Simple, contemporary designs are being preferred over heavy, complex traditional furniture, the release said.
The share of organized employment will increase from 5% in 2013 to 13% by 2022, an analysis of the zxzbreakup of the workforce across organized and unorganized segments indicates.
"The market is moving more towards organized segment," a press release issued by NSDC said.
The demand for furnitures grew 12% a year during 2007-2012 and in 2013 it increased by 15%.
"The government's policy is skewed towards imports as it allows duty-free import of furniture for all the SEZs (special economic zones) and STPIs (software technology parks of India). "This policy discourages local manufacturing. Revisiting this tax policy will help local business."
The total employment in furniture manufacturing is concentrated in five states - West Bengal, Uttar Pradesh, Maharashtra, Bihar, and Gujarat - as per the report. West Bengal, UP, and Maharashtra together account for nearly 38% of the total workforce.
About 97% of the workers in the sector are school dropouts. Of this, 88% have an education qualification for secondary education or less. In the organized furniture segment, workers account for more than half of the total workforce, while contractor workers make up nearly 25% and managers and supervisors 10%.
Employment opportunities At Office Furniture Manufacturer In Delhi
There are numerous opportunities in India for the business of Furniture as the household has increased its income while the economy is reaching to new horizons of developments. There are opportunities like start up a business or work as an interior decorator of furniture, or the supplier of the furniture to the local market from the national market. Minimum qualification is required for any candidate to start up the job in this industry at Toilet Partition Manufacturer in Noida.
Market Scenario Grab With Office Furniture Manufacturer In Delhi
The Indian furniture Industry is valued at being the 14th largest furniture market thereby making wood and the commodities industry one of the most attractive investment opportunities for international companies that you would know being with Office Furniture Manufacturer In Delhi.
According to the World Bank, India's organized furniture industry is expected to grow 20% per annum over the next few years and is projected to cross US$ 32 billion by 2019.
Online home decor market in India is projected to grow at a CAGR of 50.42% in revenue over the period 2014-2019. The Luxury Furniture's Market is expected to garner $27.01 billion by 2020, registering a CAGR of 4.1% during the forecast period 2015-2020.
FDI in the Indian real estate sector and the government's Housing-for-All by 2022 initiative and development of 100 smart cities to accommodate India's growing urban population are some of the growth drivers for the revival of the real estate and construction sector.
The Asian market is estimated to be the biggest consumer of furniture and India holds a major pie, according to a World Bank study. The FDI enterprise under Make in India has already resulted in a 60 percent growth in inflows and it is this campaign of the government with the objective of high-quality standard that is steadily attracting international capital and technological investment in India thus facilitating localized production only at Office Furniture Supplier in Gurgaon.
In spite of furniture manufacturing in India undergoing transition, around 60% of the furniture is still imported from other countries. In 2016, wood furniture, including dining furniture, accounted for about $159.6 million or nearly 48% of the total commodities shipments from India and up 18% from 2015. In 2016, the country shipped $18.4 million in dining tables to the U.S. up 3% from the $17.8 million in 2015.
This clearly indicates the domestic demand and the scope for furniture manufacturers to expand their facilities and attracting new investments in this sector with Office Furniture Manufacturer in Delhi and Office Furniture Supplier in Gurgaon.
Hence, with such positive and promising business possibilities, participants at our woodworking shows can look forward to capitalizing on the opportunities the industry has to offer.
Hey, This is Deepak Mishra. Here I write about the Increased demand for Office Furniture Manufacturer and Toilet Cubiles Supplier in the market and this will lead to an increase in employment opportunities in the Furniture Sector by 2022
There will be higher growth in employment in 2017-22 than in 2013-17 due to changes in consumer preferences and penetration of organized furnishing services in tier-I and tier-II towns, NSDC said in a report.
As per the report, the preference is switching to high-end, low-maintenance, quickly installable products with customization options which you get at Office Furniture Manufacturer in Delhi and office furniture removal Furniture Supplier in Gurgaon. Simple, contemporary designs are being preferred over heavy, complex traditional furniture, the release said.
The share of organized employment will increase from 5% in 2013 to 13% by 2022, an analysis of the zxzbreakup of the workforce across organized and unorganized segments indicates.
"The market is moving more towards organized segment," a press release issued by NSDC said.
The demand for furnitures grew 12% a year during 2007-2012 and in 2013 it increased by 15%.
"The government's policy is skewed towards imports as it allows duty-free import of furniture for all the SEZs (special economic zones) and STPIs (software technology parks of India). "This policy discourages local manufacturing. Revisiting this tax policy will help local business."
The total employment in furniture manufacturing is concentrated in five states - West Bengal, Uttar Pradesh, Maharashtra, Bihar, and Gujarat - as per the report. West Bengal, UP, and Maharashtra together account for nearly 38% of the total workforce.
About 97% of the workers in the sector are school dropouts. Of this, 88% have an education qualification for secondary education or less. In the organized furniture segment, workers account for more than half of the total workforce, while contractor workers make up nearly 25% and managers and supervisors 10%.
Employment opportunities At Office Furniture Manufacturer In Delhi
There are numerous opportunities in India for the business of Furniture as the household has increased its income while the economy is reaching to new horizons of developments. There are opportunities like start up a business or work as an interior decorator of furniture, or the supplier of the furniture to the local market from the national market. Minimum qualification is required for any candidate to start up the job in this industry at Toilet Partition Manufacturer in Noida.
Market Scenario Grab With Office Furniture Manufacturer In Delhi
The Indian furniture Industry is valued at being the 14th largest furniture market thereby making wood and the commodities industry one of the most attractive investment opportunities for international companies that you would know being with Office Furniture Manufacturer In Delhi.
According to the World Bank, India's organized furniture industry is expected to grow 20% per annum over the next few years and is projected to cross US$ 32 billion by 2019.
Online home decor market in India is projected to grow at a CAGR of 50.42% in revenue over the period 2014-2019. The Luxury Furniture's Market is expected to garner $27.01 billion by 2020, registering a CAGR of 4.1% during the forecast period 2015-2020.
FDI in the Indian real estate sector and the government's Housing-for-All by 2022 initiative and development of 100 smart cities to accommodate India's growing urban population are some of the growth drivers for the revival of the real estate and construction sector.
The Asian market is estimated to be the biggest consumer of furniture and India holds a major pie, according to a World Bank study. The FDI enterprise under Make in India has already resulted in a 60 percent growth in inflows and it is this campaign of the government with the objective of high-quality standard that is steadily attracting international capital and technological investment in India thus facilitating localized production only at Office Furniture Supplier in Gurgaon.
In spite of furniture manufacturing in India undergoing transition, around 60% of the furniture is still imported from other countries. In 2016, wood furniture, including dining furniture, accounted for about $159.6 million or nearly 48% of the total commodities shipments from India and up 18% from 2015. In 2016, the country shipped $18.4 million in dining tables to the U.S. up 3% from the $17.8 million in 2015.
This clearly indicates the domestic demand and the scope for furniture manufacturers to expand their facilities and attracting new investments in this sector with Office Furniture Manufacturer in Delhi and Office Furniture Supplier in Gurgaon.
Hence, with such positive and promising business possibilities, participants at our woodworking shows can look forward to capitalizing on the opportunities the industry has to offer.
Hey, This is Deepak Mishra. Here I write about the Increased demand for Office Furniture Manufacturer and Toilet Cubiles Supplier in the market and this will lead to an increase in employment opportunities in the Furniture Sector by 2022
