India’s furniture export industry holds a significant chunk of the global markets and is famous for offering distinct types of export grade furniture globally. Are you also making up your mind on beginning with furniture export from India? For that, you need to take note of several aspects that can help in enhancing the revenue and helping you with hassle-free processes!
Whether it’s wooden, cane, or plastic, India is among the leading list of designer furniture export that is sturdy, long-lasting, and much more affordable than its other international counterparts. There is an array of furniture export quality ranging from minimalist to designer ones. Manufacturers and designers witness massive potential in the export of furniture from India, and it is anticipated to grow by 20% every year.
India’s top furniture exporters produce impressive designs, but wooden furniture takes up 65% of the overall market share. The market for plastic furniture is also gradually on a surge owing to their innovative designs, handy use, and easy affordability amongst the masses.
Leading Marketplaces for Indian Furniture Export Industry:
– the USA
– the UK
– The Netherlands
Get Started with Export of Furniture from India
Furniture export plays a major role in enhancing the country’s economy, people’s standard of living, salary generation, and surging up the production level. At this moment, the import-export furniture business is among the rapid development markets in the country.
There are several intricate designs, statues, and various other art pieces exported from India to other countries. India is already holding a leading position in the export business when it comes to economic and foreign trade policies.
Things to Remember to Start with Import-Export Business from India
Do you want to make it to the top list of furniture exporters in India? The beginners might have to cope with multiple documentation processes and compliance to manage indoor and outdoor furniture export work. Here is the list of details that you need to check in advance!
- Decide the name for your export business
- Business Registration
- PAN Card submission
- Opening the bank account
Keep a few important things handy for documentation, such as registration code, import-export code, and others assigned by the Supervision of the Ministry of Commerce. You might also need a registration certificate curated by the Export Promotion Council.
Important Steps to Follow
1. Have a PAN Card-Having a PAN Card is essential for being a participant in wooden furniture exports. Those running partnership businesses must hold address proof along with valid identity proof. It is a mandatory document to export a sofa, chair, or other furniture abroad!
2. Starting with a Current account-Having a bank account is imperative to commence the export business, and starting with it under a registered name could prove immensely beneficial. It is also important to engage in transactions with other customers or vendors. The minimum account balance might vary as per the size of your business.
3. Select the furniture product wisely for exports-It is crucial to choose the right furniture that can help in furniture export from India to the USA and other countries. At present, wooden furniture is amongst the best idea considering diverse aspects such as the upcoming export trends and even the international market regulations.
4. Recognize the significance of Registration Cum Membership Certificate-Several promotion councils could simplify product exports and can help you with it. It is essential to know that the registration cum membership certificate has validity across India.
5. Keep finances straight-If you intend to deal with export furniture items, it is crucial to retain financial stability alongside. Keep in mind the importance of financial projection and navigate it on the right path. Keep in mind both short-term and long-term financial needs, as that would help you cope with all your business requirements.
6. Choose the right market to start furniture export from India-It is of paramount importance to carefully choose the targeted export market. Consider multiple aspects like trade barriers, demand for products, profitability, and political environment. Pick out the countries where you can commence exports as per your terms and conditions.
7. Potential Prospects as the Furniture Exporter– Trading goods overseas has a noticeable impact on the country’s economy. Interacting with furniture exporters globally can enable you to scout business opportunities that could help you attain success. They are as below:
- Online marketplaces: It is amongst the best ways to export furniture from India to other nations. Enlist your export furniture items by registering here and connecting with the vendors globally to get started with sales. It is a great way to establish business relationships and take a step ahead.
- Retain clarity about potential clients- Export products that already hold high popularity amongst your customers and avoid low-demand items to prevent losses.
After a thoughtful interrogation on various aspects of furniture export from India, it is possible to analyze the ways and means through which you can be amongst the top wooden, outdoor, sofa or hospital furniture exporters in India. Appropriate documentation is an essential criterion to sync with the policies that differ from one country to another. All of this can help you be a successful exporter of furniture from India.
Impexperts, a part of the GFE group, helps small and medium-size import-export businesses like you to grow their export company like never before. Whether you are a young enthusiast wanting to learn export-import or want import-export business services for you – you have got our back!
Get in touch with one of our export import consultants today to get a one-stop solution for your import export business!
FAQs on Furniture Export From India
1. How can the furniture export from India take place?
A. Below are the basic processes of the export process:
– Create an Organization
– Make a Business Account
– Prepare the PAN Card of the Company
– Avail importer-exporter code IEC Number
– Make an application for registration cum certificate
– Choose the targeted market and customers
– Keep compliance with the customs procedures where you want to do exports
– Manage transport logistics and legal considerations
2. Is the Furniture export business from India Profitable?
A. Business success is highly dependent on procedures and incentives that could result in anticipated export business profits. Apart from the direct costs and higher capital utilization, scrutinizing the impact on total cost is also crucial. It should be a part of your overall sales.
3. Which are the preferred furniture items for furniture export from India?
A. Demand for furniture products varies on the customer’s requirements. After a detailed discussion with the potential customers, you can have a check on demand related to furniture and its demand in the industry. Wooden furniture items like sofas, cupboards, chests, and traditional art pieces are also quite profitable, thus attracting many foreign buyers.
4. Can small furniture manufacturers manage export formalities?
A. Documentation is a primary way to handle formalities, and there is a special council set up for this. There is also a Chamber of Commerce established for start-ups to handle all formalities.