India's Furniture, Handicraft Exports Set For 20-22% Annual Growth Over Next 3 Years; Industry Credits Modi Govt's Policies

New Delhi: Driven by favourable policies of the Narendra Modi government, improved infrastructure, and new global trade agreements, India's furniture and handicraft exports are expected to grow by 20 to 22 percent annually over the next 3 years.

The industry leaders emphasised that instead of subsidies, the sector needs easing of production and export procedures, better logistics, and facilities such as Indian warehouses and showrooms in key global markets.

To promote the Indian interiors and furniture industry globally, a 3-day international exhibition, 'IMM India 2026', began on Tuesday in New Delhi. Organised by Koelnmesse from September 1 to 3, the exhibition features 102 exhibitors and over 8000 trade buyers. The event looks to establish India as a design-led manufacturing hub and a global sourcing platform.

According to industry estimates, the Indian home furniture market is projected to reach $40.53 billion by 2031, offering immense potential for India to increase its share in both global exports and the domestic market.

President of the Handloom Handicraft Export Welfare Association, CP Sharma, said that his direct and allied organisations represent around 5600 exporters and 2000 domestic industries. He noted that India's handicraft and furniture sector holds immense export potential and that the Narendra Modi government's strong export focus and trade agreements with the UK, Australia, Vietnam, and various European and African countries are expected to accelerate exports.

Managing Director of Koelnmesse, Milind Dixit, asserted that the launch of IMM India is a long-term step towards giving India a strong identity within the global furniture and interiors ecosystem. He added that the Indian home furniture market is likely to grow at a compound annual growth rate (CAGR) of over 8% by 2031.

“The launch of imm India today marks the beginning of a long-term industry platform designed to strengthen India’s role in the global furniture and interiors ecosystem. With the India Home Furniture Market on track to grow at more than 8% CAGR through 2031, this event will provide an unmatched opportunity for manufacturers, designers, and buyers to connect, exchange insights, and accelerate growth. Our goal is to spotlight India’s role as a design-led manufacturing hub and elevate industry excellence on a global stage,” Dixit stated. 

President of the Jodhpur Handicrafts Exporters Association, Dr Bharat Dinesh, said that the handicraft sector in Rajasthan is among the largest employment-generating sectors after agriculture, with the state alone accounting for annual exports worth Rs 12,000 crore. He stressed that to increase India's share in the global market, investment in skill development of artisans is crucial.

The industry experts believed that if the central government continues to focus on policy reforms, logistics, export procedures and strengthening the presence of Indian businesses in global markets, the furniture and handicraft sector could play an important role in India's export and employment growth.

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