Furniture Sector

A Production Linked Incentive (PLI) scheme is being considered by the government for certain types of furniture to ramp up domestic manufacturing, exports, and job creation in the sector, as per government officials

A Production Linked Incentive (PLI) scheme is being considered by the government for certain types of furniture to ramp up domestic manufacturing, exports, and job creation in the sector, as per government officials. The scheme was already rolled out by the government with an outlay of about Rs 2 lakh crore for around 14 sectors. The scheme aims to make domestic manufacturing globally competitive and for the creation of manufacturing global champions.

Additionally, an extension of the scheme has also been requested by the industry of toy for the promotion of local manufacturing and job-creation. Estimates suggest that the export of furniture is at about USD 400 million per year. The global furniture exports have a current standing of USD 264 billion. Reports suggest that China, Germany, Poland, Italy and Vietnam dominate half of the market share, as on date.