Published on April 5, 2018
Presently all the plywood manufacturers are gaining confidence. Growth from last one and half years was not visible in plywood industry but capacity addition, new plants and modernization is regularly being done by furniture makers.
Despite of struggles and weak lifting in retail markets, the expansion in manufacturing plants are happening at surprising speed in every product category in wood panel sector.
India in FY 2017-18 poised to offer bigger opportunities and organized working after E-way bill. After GST that was applicable in July 2017, unorganized industries of plywood, hardware and furniture made sincere efforts to reduce the slab and slab was changed from 28 to 18%.
As per market players, in FY 2018-19furniture is going to be more economical which will help to organized retailer to grow quicker. This fiscal all the industry players are positive for demand prospects.