imm india

India’s furniture industry eyes $40 billion market by 2031 amid rising demand

The inaugural imm India 2026 trade fair opened at Yashobhoomi, New Delhi, highlighting strong export potential and market growth projections for India's furniture and interiors industry.

The Indian furniture and interiors industry is witnessing growing demand for organised, design-focused products as imm India 2026 opened at Yashobhoomi, Dwarka, New Delhi, on September 1. The event comes as India’s home furniture market continues to expand. A recent Mordor Intelligence report estimates the segment to grow from $27.27 billion in 2026 to $40.53 billion by 2031, representing a CAGR of 8.24%.

Export Potential
C. P. Sharma, President, Handloom Handicraft Export Welfare Association (HHEWA), said, “Our association represents around 5,600 export industries and nearly 2,000 domestic industries, and we see significant export potential for India’s handicrafts and furniture sectors. Dedicated platforms such as IIMM are important for giving furniture a distinct identity and connecting Indian sellers with global buyers.”

Adding to it he mentioned that, “With the government’s strong export focus, improving quality standards and FTAs with Australia, New Zealand, Vietnam, the UK, 27 European countries and five African countries, we expect export turnover to grow by 20–22% over the next three years.”

The sector is being supported by rising incomes, urbanisation, changing consumer preferences and increasing demand for modular and space-efficient furniture.

Recent industry research also points to premiumisation, with consumers showing greater interest in better-quality, design-led products. Non-metro markets are expected to account for around half of India’s furniture market by 2030.

Milind Dixit, Managing Director, Koelnmesse Pvt. Ltd., said, “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,” Dixit added.

The exhibition features furniture, lighting, wall and floor coverings, décor, kitchen and bath solutions, and handcrafted products. An International Hosted Buyer Program will facilitate business meetings between exhibitors and domestic and international buyers.

Press Coverage By: https://www.financialexpress.com/