The term ‘institutional furniture’ broadly references furniture for group living as well as for health care. It includes furniture for schools, libraries, auditoria, conference halls, churches, health care centers, and theatres. Sandeep Mukherjee, Director, Quetzal Furniture, Bengaluru, says, “The ambit of institutional furniture is massive if you include education, corporate, hospitals and hospitality. Each area is vast and different as well.” This segment in India has seen rapid growth in recent years.
Evolving Market
The pre-Covid estimates for the Indian furniture industry were US$ 35 billion, with the share of the online sector at about US$700 million in 2020 (source: indianmirror.com). Parin Nandani, Director, Parin Furnitures, Rajkot, says, “The furniture segment in India makes a marginal contribution to the Gross Domestic Product (GDP), representing about 0.5 per cent of the total. The institutional furniture segment caters to the commercial and office space and this segment has witnessed a healthy growth for a couple of decades.” Mukherjee adds, “Overall demand for furniture in India for institutional purposes would add to almost 32 per cent of the total. This demand has changed with time and is now mainly supplied by the organized sector.”
This story is from the May - June 2020 edition of IFJ.
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This story is from the May - June 2020 edition of IFJ.
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