Indian Furniture Retail Industry
The Indian furniture retail market is one of the 14th largest furniture markets in the world due to the rising purchasing power of the Indian middle class population. This USD 8 billion industry has been growing at 30% compound annual growth rate. According to a Cushman and Wakefield report, the demand for residential spaces is forecasted to hit 4.25 million units while the demand for office spaces is expected to hit 400 million sq.ft. between 2010 and 2014 in India. Another major segment is contract furniture which is driven by the increasing hotel developments and tourism demand in the country.
The Indian furniture retail market has been classified by CSIL Milano as one of the 14th largest furniture markets in the world due to the rising purchasing power of the more than 400 million middle class population. This USD 8 billion industry has been growing at 30% compound annual growth rate in just the organized sector which accounts for only 15% on the entire industry. According to a Cushman and Wakefield report, the demand for residential spaces is forecasted to hit 4.25 million units while the demand for office spaces is expected to hit 400 million sq.ft. between 2010 and 2014. Another major segment is contract furniture which is driven by the increasing hotel developments and tourism demand.
All these factors, clubbed with the evolving consumer demographics and increase in spending on lifestyle products bodes very well for the Indian furniture industry.

India’s Position
According to India Now! More Than Ever, a report by Index Media Consulting: India is ranked eighth in terms of consumption in the world. The organized furniture industry is estimated at around US$8b and is expected to grow at a Compound Annual Growth Rate (CAGR) of about 25-30% annually. The modular furniture market in India, estimated at about US$160m, is