Price Rise in Furniture: The impact of the ongoing war between Iran, America and Israel is now clearly visible on India’s furniture industry. Due to the rise in prices of petrochemical products and reduction in supply, almost all furniture related items have become expensive. There has been an increase of 20 to 50 percent in the prices of mattresses, beds, sofas, dining tables, curtains, ply, cupboards and even small temples kept in homes.

According to traders, the foam mattress which was earlier available for around Rs 1800, has now reached Rs 2600, i.e. an increase of about 50 percent. At the same time, there has been an increase of about 20 percent in the prices of curtains; a curtain which used to cost Rs 400 is now available for Rs 550. The price of ply used in furniture manufacturing has also increased from Rs 700 to Rs 1200. Similarly, the price of blankets has increased from Rs 1600 to Rs 2300.

Raw materials become expensive, huge jump in furniture prices

Sellers say that due to the cost of petrochemical products like polyethylene, thinner and formaldehyde, there has been a huge increase in the cost of production. This has had a direct impact on the finished furniture as well. The price of a double bed has increased by Rs 8 thousand, while dining table set has become costlier by Rs 7 thousand and sofa set has become costlier by Rs 8 to 9 thousand. Other items of household use also did not remain untouched by this. Temple prices have increased by about 40 percent and wardrobe prices by 10 to 12 percent.

Customers disappear due to inflation, industry asks for government relief

Traders associated with the furniture market say that due to the rise in international prices of crude oil, the cost of petrochemical products has increased, while the situation has worsened due to supply disruption. Due to rising prices, the number of customers in the market has also reduced, due to which business is being affected.

Officials of the Furniture Market Association have demanded from the government that tax exemption and other assistance should be given to provide relief to the industry, so that it can overcome this crisis. Although there are indications at the international level that the war may end soon, but experts believe that in these few weeks the Indian economy and especially small industries are facing huge losses.