"Indonesia was able to seize business commitments amounting to Rp17 billion from the event," the ministry's director general of Agro Industry, Putu Juli Ardika, remarked on Tuesday.
During the event held on August 9-11, Indonesia was represented by six companies and furniture designers, namely Cocoon Asia and Handyanto Hardian, Chakra Naga Furniture and Chyntia Margareth, Wisanka and Suskariyanto, Dekor Asia Jayakarya and Gege Noby, Satori Rattan and Zulyo Kumara, and Nafarrel Furniture and Vincentius Aldi Masella.
In addition, the Industry Minister's Expert Staff for Strengthening Domestic Industrial Capabilities, Ignatius Warsito, remarked that India has a fairly large and promising market potential.
Based on IndexPlus data, the Indian consumer market has the potential to be the third-largest in the world in 2027.
Furthermore, the percentage of the Indian population living in urban areas has currently increased by 37 percent and continues to rise, with a market value of Indian furniture reaching US$41 billion, he stated.
"We hope the large market potential and dynamic furniture market trends can be utilized by furniture industry players, including furniture designers, who play a major role in realizing marketable furniture design trends," Warsito remarked.
In addition to market expansion to India, his side is seeking an opportunity to expand exports to other non-traditional countries. This was based on the Expert Market Research data stating that the global furniture market value in 2023 was recorded at US$629 billion and was projected to grow by five percent in 2024.
Earlier, the Ministry of Industry stated that the growth of the furniture industry's gross domestic product (GDP) in the first semester of 2024 reached 0.50 percent. This growth is considered a positive remark, considering that in the last two years, this industry has contracted.
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Translator: Ahmad Muzdaffar F, Resinta Sulistiyandari
Editor: Rahmad Nasution
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