interior design singaporeSpeaking at a press conference in Mumbai, Ms Sylvia Phua, Chief Executive Officer of MP International explained: “As an established tradeshow organiser and owner of the Singapore International Furniture Show which has been held since 1981, we believe we can value-add to the Indian furniture market by providing a credible buyer-seller meeting place for industry members to source innovative, new-to-market product offerings and keep abreast of major global design and industry trends.”
Ms Phua added: “I believe that we are here at the right place and at a right time. In addition to the dynamic and enormous market, there is a lack of a reputable international platform in India for leading furniture brands from around the world to launch their product lines.”
As one of the fast-developing emerging countries in the world, India's furniture market is currently worth US$8 billion and is growing at a compound annual growth rate of 30 per cent according to KPMG report. In the same analysis, the branded furniture market comprising of residential and commercial furniture, was valued at US$1.3 billion in 2008 and it is expected to reach US$3.7 billion in 2012. The Centre for Industrial Studies Milano forecasts India’s real consumption of furniture to grow at 6 per cent in 2011.
Many leading international furniture makers recognise the potential of the Indian market. Attracted by the growing demand for premium furniture in India, several well-known Spanish furniture makers are making their forays into India with a special showcase of new product lines that are specially designed for the Indian market.
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