Strengthening Timber Exports in Volatile Times: Finland-India Trade Delegation Tour

Posted on October 17, 2023   |  

India's woodworking sector is experiencing robust growth, making a substantial contribution to the country's economic development.

The furniture market in India is poised for an annual growth rate of around 20%, and timber imports are a key driver of this expansion.

India's timber trade is significant, with imports valued at over 5 billion USD, underscoring its vital economic role.

In 2021, India purchased 3 million m³ of softwood logs and timber, amounting to a total expenditure of 500 million USD, which included 137 million USD spent on sawn wood.

The growing demand for timber in India is primarily propelled by the construction industry, a major contributor to the country's GDP.

India's wood consumption is forecasted to increase by 70% over the next decade, largely due to the construction sector and the booming furniture industry, projected to reach a market value of USD 37 billion by 2026.

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