India has successfully implemented free trade agreements with Mauritius, the UAE, Australia, the EFTA bloc, and Oman, providing significant export opportunities for the furniture sector. According to reports from Business Standard, the country has also signed such pacts with New Zealand and the UK, and announced the conclusion of negotiations with the European Union. India is currently negotiating similar trade agreements with Israel, Canada, Peru, Chile, Gulf Cooperation Council countries (Bahrain, Kuwait, Qatar and Saudi Arabia), and the Eurasian Economic Union (EAEU - Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia). The latest development includes New Zealand and India completing legal verification of their Free Trade Agreement, clearing the way for signing on 27 April in New Delhi. As reported by NZCCHK News 2026 Q2, Trade and Investment Minister Todd McClay describes the deal as offering "once in a generation" access to a market of 1.4 billion people, with the FTA removing or reducing tariffs on 95% of New Zealand exports, including 57% duty free from day one, rising to 82% when fully implemented.
Industry experts emphasize that these agreements will provide huge export opportunities for Indian furniture manufacturers. As reported by Business Standard, Gujarat-based Nipponply Industries Managing Director Ketan Thakkar confirmed they have already started exports, stating that Indian products meet global standards and there is good demand in international markets. The company is receiving positive enquiries for dining and office tables and chairs, including round dining tables, conference tables, and monolithic buffet tables with flame-retardant surface systems and scratch-resistant surfaces. The global furniture industry is expected to reach USD 872.5 billion by 2030, presenting significant growth opportunities for Indian manufacturers. According to Trade Promotion Council of India (TPCI) estimates reported by Business Standard, the Indian furniture market was valued at over USD 30 billion. India currently ranks 16th in the global market for furniture exports, contributing over one percent to global furniture exports, with major export destinations including the United States, Germany, and the United Kingdom.
Nipponply Industries Project Head Aastha Thakkar highlighted the potential for import substitution, noting that India imports a lot of high-end office and home furnishing products. As reported by Business Standard, the company's products are 100 per cent non-toxic and they are developing AURA, a range of premium home and office organization products made from patented Nipponglint wood veneer technology. Bharat Cluster Ventures Private Limited (BCVPL) Founder Amiet R Barot confirmed the company is exporting to Europe and the US while exploring opportunities in other markets, and developing Maharashtra Global Furniture City (MAHA-GFC) for manufacturing, trade, exports, and logistics. The duty concessions under these trade agreements are expected to encourage capacity expansion and fresh investments in India's furniture manufacturing sector.
The furniture sector's growth prospects have been further enhanced by strategic partnerships, including Swedish furniture retailer IKEA's announcement of setting up a new product development company in India to support creation of affordable and locally relevant products for domestic and global markets. According to Business Standard, Indian Institute of Foreign Trade (IIFT) Vice-Chancellor Rakesh Mohan Joshi emphasized that FTAs have opened immense export opportunities for the Indian furniture sector, urging the industry to capitalize on these opportunities. The duty concessions under these trade agreements are expected to encourage capacity expansion and fresh investments in India's furniture manufacturing sector. As per NDTV Profit, industry experts say these agreements will help provide domestic players with preferential access to overseas markets while encouraging capacity expansion and fresh investments in India.
