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Nipponply Industries plans to invest INR 250 crore over the next three years to expand production for exports, develop e-commerce infrastructure, and establish warehousing and design centers. Currently, INR 65 crore is being invested in panel and furniture manufacturing. The Gujarat-based firm aims to capitalize on the furniture sector's potential in India and abroad, seeking partnerships in Europe, the Middle East, and North America. It also highlighted challenges like price volatility and inconsistent delivery, suggesting government measures like quality control orders and a 12% GST slab for certified furniture to boost global competitiveness.
Nipponply Industries, a Gujarat-based company, has recently announced plans for a significant investment. On Friday, July 11, the firm stated its intention to ramp up production for exports and develop infrastructure by committing INR 250 crore over the next three years, impacting its production capabilities and market reach. Advertisement
Nipponply Industries plans to invest INR 250 crore over the next three years. This investment is intended to ramp up production for exports, develop e-commerce infrastructure, and establish warehousing and design centers. It also aims to strengthen global partnerships. Currently, the company is investing INR 65 crore in panel and furniture manufacturing expansion.
Ketan Thakkar, Managing Director of Nipponply Industries, stated that the furniture sector holds potential in India and other countries, including Europe. He added that India is a champion sector in the furniture sector and can lead in global modular exports with proper support. The company is in talks for partnerships in Europe, the Middle East, and North America for exports.
Thakkar highlighted key trends shaping the furniture industry in India. These include a shift from local carpentry to modular, branded solutions, and a growing adoption of wood-veneered plywood over MDF (medium density fibreboard). However, he also noted challenges that need to be addressed, such as price volatility in timber and coatings, limited eco-certified raw material vendors, and inconsistent last-mile furniture delivery.
Thakkar suggested government measures to build consumer trust and global competitiveness, such as issuing quality control orders (QCOs). He stated that these regulations would filter out substandard imports and promote certified Indian manufacturers.
On the GST (Goods and Services Tax) front, Thakkar suggested a 12% slab for certified furniture. He noted that furniture and panels are currently taxed at 18%, which he stated raises the burden for affordable buyers. He recommended input tax credits for exporters and GST relief for modular MSME (micro, small and medium enterprise) exporters, stating this would boost adoption of green materials and improve cost parity.
Nipponply Industries has a team of over 100 professionals across operations, design, surface finishing, logistics, and marketing. Investments in manufacturing and export infrastructure are common strategies for companies looking to expand their global market presence.
Source: PTI
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