Infrastructural Boost and Financial Reforms are Going to Yield Beautiful Outcomes

FDT Bureau

‘Furniture Design & Technology’ magazine (FDT) is now a two years old magazine with six published issues. During 2017, Demonetisation affected the pace in the business that also impacted FDT initial take off followed by GST implementation that impacted the business scenario for some time. In 2018, our team focused more on surveys and reaching out to furniture sellers and furniture industries on ground that is helping us to present reports that have never been made earlier. Post demonetisation, GST was indeed a speed breaker but it is now slowly shaping the unorganised segment towards a channelized work culture which is helping the furniture industries in getting better organised and focused.

The calendar year 2018 proved to be a tough year for furniture makers, small sized industries, OEMs and material plants and brought a consolidation phase. Because of slow pace in residential housing and property markets, furniture makers, sellers and importers are not as ease as yet but optimism is building up. Despite some movement in office leasing space and few corporate expansions, entire financial year 2018-19 was ridden by tightness in real estate markets, liquidity crunch and suspended projects.

The new funding rules and strictness in bank financing impacted the speed of business and affected the not so strong industries of every sector. The furniture making segment has witnessed their toughest phase during this period because of many policy changes that affected the market demands.

But, it is also true that almost every industry owner, traders and a large section of business community is in favour of the reforms that is taking place. The business community specially in furniture segment is highly optimistic that whatever changes and difficulties it has witnessed, are going to yield beautiful outcome for organised and clean business entrepreneurs. Market believes that post July 2019, things will begin to be visible that will uplift the demand scenario in markets. Surprisingly during last two years, organised furniture players have added to their plant capacities or have modernised their set up without fearing from any slowdown sentiment.

At FDT, as a team we are confident being more regular, more on toes to witness the changes occurring in this segment. In this issue of FDT, there is a detailed on-ground report of ‘Jaipur Wooden furniture’ business scenario. There is also a brief market update on one of the vital markets of India e.g. Panchkuiyan furniture market, Delhi. The Material section has article on ‘growing uses of MDF in carving application in Uttar Pradesh’ and a detailed article on ‘expanding and flourishing PVC edge band tape applications and demands’ in India. The interview of ‘Felder Group, India’ director, Mr Tushar Tandel’ is a important read for the industry, where his tips could be very useful for entrepreneurs and ambitious OEMs of Furniture segment. With lots of news clips, industry people interaction and focus on market updates, FDT magazine look forward to meet you all at Ligna 2019, Hannovar, Germany. Enjoy reading, Happy FY 2019-20.

Pragat Dvivedi

Founder Editor

Furniture Design & Technology (FDT Magazine)
www.furnituredesignindia.com

This editorial was originally published in Furniture Design Technology (FDT Magazine) March 2019 print issue. If you want to read the full magazine, please subscribe Furniture Design Technology Magazine here:  

http://www.furnituredesignindia.com/subscribe