Estimated at INR 887.50 million in 2014, the industry contributed just 0.5% to India's GDP. It is expected to reach INR 2,708 billion by 2019 at the compounded annual growth rate (CAGR) of 25 percent [ 2015-2019] according to the Cushman and Wakefield report.
The Indian furniture industry is still an un-organized sector, as the artisan-driven portion accounts for about 85 percent of furniture production.
Recently several international brands has boosted furniture retail in the country, pushing growth in this sector. A growing middle-class population, rise in disposable income, rise in the lifestyle of the people contribute significantly to the growth of the Indian Furniture industry.
Also the growth in the tourism and hospitality sector contribute their due share. The Western and the Southern parts of India are the main markets for the Indian furniture.