INDIA FURNITURE EXPORTS
Basmati rice, tea exports to West Asia come to a grinding halt
Exports of basmati rice and tea to West Asia have stopped due to the US-Iran conflict. Vessels carrying rice are waiting at Kandla Port. Tea exporters face a similar situation, with orders from GCC countries unfulfilled. The Strait of Hormuz closure and attacks on cargo ships have created significant tension and pressure on exporter profitability.
Free trade pacts to boost furniture exports, domestic manufacturing: Industry
India's furniture sector is set for a major boost. New free trade agreements will open up export markets and encourage investment. Domestic manufacturers are ready to meet global demand and replace imports. Companies are already seeing increased enquiries and expanding their product lines. This presents immense export opportunities for the Indian furniture industry.
IKEA sets up India development centre in push beyond sourcing
IKEA has launched a new product development center in India. This positions India as a key hub for designing home furnishings for both local and international markets. The company aims to develop affordable products relevant to Indian consumers. This expansion signifies IKEA's commitment to India's full value chain, from retail to manufacturing and now product innovation.
Delhi Chakka Jam for three days: Check what could be affected in Noida, Gurugram, Ghaziabad, Faridabad and other NCR regions
Delhi Chakka Jam Today News: A three-day Chakka jam in Delhi-NCR has been called by transport unions starting May 21. During these three days residents in Noida, Gurgaon, Ghaziabad, Delhi and Faridabad may face shortages of daily essentials. A three-day 'Chakka Jam' from May 21 to 23 aims to highlight rising costs and environmental taxes.
India labour market remodels itself bit by bit as agri slowly cedes ground, workforce moves on
India's labour market is undergoing a structural transformation driven by the country's broader economic transition, a report by SBI Research based on the latest Periodic Labour Force Survey (PLFS) 2025 unit-level data has shown.
These large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of up to 25%
We are living in times when the morning may see conciliatory exchanges between the US and Iran, leading to a cooling in crude oil prices. But by afternoon, the tone changes and we see crude prices moving higher again. In such circumstances, it is probably better to think unconventionally. How does one do that at this point of time?
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For investors with long-term perspective: 5 mid-cap stocks from different sectors with upside potential of up to 30%
Even before the US-Israel-Iran war began, there was a sort of readjustment taking place in the mid-cap segment – a kind of valuation readjustment. Stocks that used to get high valuations earlier have seen their valuations getting normalised. And now, given that earnings are likely to slow down, the segment is under pressure. So, why even look at such stocks? Because, investing is not about one or two quarters.
Dalcore to invest Rs 500 cr to build branded luxury homes in Gurugram
Realty firm Dalcore on Thursday said it will invest Rs 500 crore to develop a luxury housing project at Gurugram, in partnership with a global design and lifestyle brand YOO.
Why fixing India’s export machinery is key to hitting the $2 trillion goal
India aims for $2 trillion in exports by 2030. Current growth is slow, and global market share is small. The country faces challenges in export geography and product diversity. A new strategy is proposed. It includes a unified trade facilitation agency, increased investment in trade fairs, and large sector-specific exhibitions.
Input costs may deny exporters edge gained from rupee at record low. Textiles, leather, agro products, carpets may benefit
The Indian rupee has reached an unprecedented low against the US dollar. While this opens up favorable avenues for exporters, the simultaneous rise in raw material and energy costs is likely to negate these gains. Industries such as textiles and leather might experience slight improvements, yet others will grapple with inflated import bills.
Indian wood and furniture exporters to gain competitive edge in US after Trump's 10% global tariff: GTRI
Indian wood products and furniture exporters will become far more competitive in the US market, as tariffs on this category will be slashed from 50 per cent to 10-25 per cent after the latest tariff imposed by US President Donald Trump on wood products, said policy think tank GTRI.
Shipments of banana, ghee, furniture, office stationery and solar photovoltaic modules growing rapidly in new markets
India is diversifying its export basket, focusing on products like banana, ghee, solar PV modules, and alcoholic beverages. The goal is to increase the global share of these products, targeting markets such as the US, EU, China, Japan, and more. Export revenues are expected to surge due to government incentives and global demand.
EU proposes deforestation law delay: $1.3 billion Indian exports get relief
The EU has proposed extending its Deforestation Regulation implementation by a year to December 2025 due to pushback from countries including India. This provides relief to $1.3 billion in Indian exports such as leather, coffee, and wooden furniture, allowing more time for compliance with the stringent requirements.
IHGF Delhi fair: 3,000 exhibitors, 100 plus buyer countries likely to participate
Buyers from companies and departmental stores who have already confirmed their visit to the show include Flamant from Belgium, Canada’s Gibb and Daan, Simpli Home Ltd, France’s Loulou du Pont Neuf, Vanam interiors, Spain’s Casa Barrera, S.L; Homestead Decore, South Africa, and the UK’s Sainsbury's Supermarkets, Indus Valley Furniture Ltd, My Doris Limited.
Automation to drive higher growth rate for India's MDF industry -Greenpanel CFO
India's furniture industry will experience significant changes with the entry of organized domestic and international players and the adoption of automation, according to Vishwanathan Venkatramani, CFO of Greenpanel Industries. He highlighted that automation will drive the growth of the medium density fiberboard (MDF) sector, since it is produced in fully automated plants, unlike plywood, which is labor-intensive.
Indo-Aus trade pact to come into force from Dec 29; to give duty free access to a number of goods
"India and Australia signed the ECTA) on April 2 which will come into force on December 29," Minister of State for Commerce and Industry Anupriya Patel informed Parliament on December 16. As the initial part of the agreement - ECTA - is coming into force, now both countries would start negotiations to widen the scope of the agreement.
Environment ministry grants huge relief to Indian handicraft exporters ahead of CITES CoP-19 meeting
The Ministry of Environment, Forest and Climate Change on Monday stated that any number of Dalbergia sissoo timber-based items can be exported as a single consignment in a shipment without CITES permits if the weight of each individual item of this consignment is less than 10 kg.
Government considering PLI scheme for furniture sector to ramp up manufacturing
The government has already rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, pharma, textiles, advance chemistry cell and speciality steel.
After free trade pact, 80% of exports to UAE to be duty free
The country would be able to export textiles worth an additional $2 billion in the next two years and treble the plastics exports to the UAE under the Comprehensive Economic Partnership Agreement (CEPA), which the two sides will sign on Friday, said people aware of the matter.
Govt may tweak customs duties on host of goods in Budget 2021
"Expensive raw materials impact India's price competitiveness in the international market. The country's exports of furniture is very low (about one per cent), while countries like China and Vietnam are major players in the sector," they added.
DPIIT shares list of 24 key sectors with ministries to work on plan to boost manufacturing
"Each ministry has been sent those sectors to identify their response. What incentives they (sectors) need, what policy tweaking is required, they (respective ministries) should do that. We have given them a preliminary action plan and the ministries will work on that. Each ministry will bring its own policy on these sectors," the commerce and industry ministry official said.
Piyush Goyal holds meeting with officials on ways to boost exports, reduce import reliance
He also discussed the future course of action in the post-coronavirus era to make India an industrial powerhouse with the officials of the Department for Promotion of Industry and Internal Trade (DPIIT).
Govt likely to impose restrictions on furniture imports
India's furniture imports stood at $603 mn in 2018-19. Out of this, from China, it was $311 mn in that financial year. The other main exporters to India include Malaysia, Germany, Italy, and Singapore. China is the largest exporter of different kind of furniture in the world. According to estimates, China's export to India stood at around USD 1 billion.
Ikea to make India manufacturing hub for sofas, furniture
One of the ways how Ikea plans to reduce prices of its products in India is by exporting locally-made products to its global stores.
Antidumping duty imposed on 'TDI' from China, Japan, Korea
Gujarat Narmada Valley Fertilizers and Chemicals had approached the DGAD for imposition of the duty alleging dumping of the product from the three countries.
Carpenters from Jaipur, Jodhpur back in demand as furniture e-tailers rush to recruit them
India's online furniture retail market is expected to reach Rs 15,000 crore in three years, from Rs 750 crore now, according to industry estimates.
Italian luxury furniture giant Chateau d’ Ax follows Ikea to Hyderabad
The India expansion plan includes opening at least 40 stores, both owned and franchise, over the next five years involving an investment of over Rs 100 crore.
Wipro Consumer Care and Lighting to tap infrastructure lighting space
Wipro Consumer Care and Lighting (WCCLG) today said it will tap infrastructure projects in India to strengthen its lighting business.
Ebony Gautier to invest Rs 120 cr to set up 20 stores
EBONY Homes, the home furniture retail arm of the $3 billion DS Constructions, has plans to invest Rs 120 crore to set up a chain of 20-25 furniture stores styled Ebony Gautier across the country by March 2012.
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