06-Oct-2023
India, a hub for innovative artisans, contributes to being an enormous exporter of elegantly crafted furniture globally. The export industry significantly impacts the nation's economy, level of production, compensation, standard of living, and employment prospects. Compared to other sectors, the export-import of furniture has become one of the most established businesses. Are you deciding whether to start with furniture exports from India? It would help if you were informed about several factors that might boost your revenue and make the procedure more accessible. This blog post will help you to comprehend the export-import data and critical steps to start furniture exports from India.
Did you know? Our top Indian furniture producers create incredible designs, but wooden furniture dominates 65% of the industry. The market for plastic furniture is also progressively growing due to its creative designs, practical uses, and broad accessibility. The furniture industry has a long history in Jodhpur, Rajasthan.
Approximately 30% of all Indian furniture exports are produced in a city in the northern part of the country famous for its artisanal furniture sector. This might not be surprising because the area is excellent for the furniture industry due to its dry climate and talented artisans.
The furniture business in Jodhpur has expanded significantly over the past 20 years, with exports rising from less than INR 200 crore (about USD 24 million) to INR 4,500 crore (USD 545 million). About 300,000 people are employed in the sector, which attracts craftspeople from all over the nation.
It is expected that the Indian furniture market will expand steadily during the forecast period. This expansion might be allocated to the region's fast development and rising population, raising demand for home furnishings.
E-commerce has made it possible for Indian sellers to export and conduct business abroad effortlessly. Here are the key trends in the furniture export market:
Approximately 10% of global exports of furniture come from India, one of the top producers in the world.
Over $20 billion is estimated to be the market size of the Indian furniture sector, which is expected to grow at a CAGR of more than 10% over the next few years.
Many factors drive the business, including rising disposable incomes, increasing urbanization, and rising demand for high-end furniture from both local and foreign markets.
Despite ongoing economic uncertainty, the furniture market is expected to grow 5.2% between 2023-2028.
The Indian domestic furniture industry is expected to expand significantly between 2020 and 2024, with a CAGR of 12.91%. Despite the estimated USD 1.1 trillion in global furniture businesses, India only contributes less than 5% of the market share.
Based on furniture export data, 1,778 Indian exporters exported 624,200 shipments of furniture to 11,130 purchasers. The top three countries to which Indian furniture is exported are the United States, France, and the Netherlands, making India the largest exporter of Indian furniture globally.
With 624,235 shipments, India dominates the top three exporters of Indian furniture, followed by China with 6,666 shipments and Oman in third with 4,924 shipments.
HSN Codes 94036000, 94016900, and 94032090 are used to identify the top three product categories of Indian furniture export from India.
USA 224.23 USD Million
Germany 60.24 USD Million
Netherlands 58.68 USD Million
United Kingdom 39.79 USD Million
France 33.86 USD Million
Mundra 608.356 INR Million
Tughlakabad 267.711 INR Million
Nhava Sheva Sea 170.217 INR Million
Kanakpura - JAIPUR ICD 102.277 INR Million
Jodhpur 57.448 INR Million
India exports various indoor and outdoor furniture products to homes, workplaces, and industries. Some popular furniture products that are exported the most are:
Beds
Sofa beds
Kitchen cabinets
Tables and chairs
Dining chairs
Dressing tables
TV units
UK
Germany
The Netherlands
So, these are the detailed export data for Indian furniture. Suppose you need updated and accurate furniture export data, top HS codes for furniture, a leading furniture list, port data, suppliers, or buyer information. In that case, you can gain all the related information on a single platform. ExportImportData.in provides the relevant market insights.
Read Our Latest Blog: How to Find Buyers in International Market: Proven Ways to Export from India.
You can export furniture from India very quickly. Either through a dealer/agent, the furniture can be exported. ExportImportData.in provides the most updated furniture export data, and our representative will assist you with accurate statistics for exporting furniture from India. Several mandatory documents are required to export furniture from India, and some significant steps also need to be followed while exporting furniture from India. The following documents are required to export furniture from India:
Importer Exporter Code (IEC)
Valid identification in the applicants' and firms' names
Address business or project proof
Current Account Mandatory
Foreign Trade Commission export project selection and registration
Export Promotion Council's certification
Project PAN card listing for the project entity
Bank statement
Shipping bills
Commercial invoice or packing list
Bill of lading or airway bill
To export furniture from India, you will need to follow these steps:
The foremost step to exporting furniture from India is to research your target audience. In every trade business, traders need to analyze the target market. It can help your business establish itself in the global arena. There are market research reports that are very complex to understand. Traders can quickly obtain this market report from reputed sources like ExportImportData.in. You will get all your requirements, like furniture export data, port data, updated shipment data, etc
The next step requires professional help, as you need the registration cum membership certificates. If you plan to export furniture from India, this certificate is mandatory for traders. You can hire an agent or professional for the RCMC certification process.
The IEC number is a 10-digit code issued by the Directorate General of Foreign Trade (DGFT) to firms that want to import or export goods from India. The IEC code is also necessary for export furniture from India.
You can find and analyze buyers and suppliers for your furniture through online dashboards. Some popular online portals include ExportImportData.in, Seair Exim Solutions, and EximPedia.app.
These online platforms readily provide the following:
The export and import data
Product-wise Hs codes
Port data.
Shipment data.
Updated buyer and supplier data can help traders export furniture from India.
Keep your finances structured.
It doesn't matter how your furniture export business is growing. Maintain accurate financial estimates at all times for an export business to succeed. Before launching an export firm, be aware of the financial requirements. Analyze your export furniture company's short- and long-term financial needs.
When you're ready to export furniture from India, meticulously organize your paperwork. A smooth export process requires proper documentation, which includes commercial invoices, air waybills, bills of lading, and packing lists.
You need to visit the ExportImportData platform to analyze the export-imports data of furniture materials. ExportImportData is a market research platform that provides import-export data and authentic information about international trade for 100+ countries. Along with other items, we also offer updated furniture importers in India.
In conclusion, furniture export is a growing sector and has enormous potential among India's top exported products; thus, focusing on this segment can bring the best results. The range and designs of furniture can be a significant product differentiator in the furniture export market from India.
After thoughtfully interrogating numerous aspects of furniture export from India, it is possible to analyze the ways you can be among India's top wooden, outdoor, sofa, or hospital furniture exporters. So, if you need guidance on export import data, you can connect with our professionals and grow your business internationally.
Export Import Data solutions is one of the best online import export websites in India that provides trade data services and trading business information. Currently, Export import data is the best import export data provider and market research companies in India.
