HGH India - Indian home products market will continue to grow at 15% CAGR

 by Shrutee K

Sustainability & Innovation in Home textiles space – big theme for the Government of India

4^th July 2023, Mumbai: The 13^th edition of HGH India, the bi-annual trade show for Home Textiles, Home Décor, Home Furniture, Houseware & Gifts for the Indian domestic market, was inaugurated by Mrs. Rachna Shah, Secretary Textiles, Ministry of Textiles and Ms. RoopRashi, Textile Commissioner at the Bombay Exhibition Centre, Mumbai. The architect fraternity was represented by special guests Mr. Hasmukh Shah, Chairman, IIID (Mumbai), Ar. Reza Kabul and Ar. Hiten Sethi.

Commenting on the Home Textiles market in India, Secretary Textiles, Mrs. Rachna Shah said, “It is a great initiative by HGH India, to bring the industry together with brands, manufacturers, retailers, and wholesalers. They are supporting artisans as well. We have seen HGH India grow from strength to strength through the last 12 editions and this being the 13^th edition it is even bigger.

The Government was always very focused on promoting the textiles sector given its importance in generating economic activity and employment opportunities for people. A lot of MSMEs and start ups are involved in this sector. So, in terms of giving them an infrastructure push weather it is through our textile parks or giving production linked incentives through our PLI schemes or promoting the technical textiles sector by encouraging skilling and marketing support, it is an end-to-end support that the government is aiming at, especially for the traditional textiles sector including handlooms and handicrafts which are also very closely linked to home accessories, home décor and gifting.

Consumer base in India is growing, not just in metros but smaller cities as well. They are becoming more aware and conscious. They are more hooked on quality, packaging, and product diversity. So, going forward, the focus will be on sustainability and recycling. The government will continue to build on that.”

Mr. Arun Roongta, Managing Director, HGH India said, ‘The Indian Home products market which includes home textiles, furnishings, home décor, furniture and a variety of houseware will continue to grow at 15% CAGR over the next ten years at least. Per capita consumption of all these products in India is very low compared to the developed world and hence with growing spending power of Indian consumers, the prospects for the domestic market are very bright. We are geared up for the largest edition of HGH India that is all set to provide several new sourcing solutions and business directions to home retailers, professional interior designers, architects and institutional buyers in home category.”

With the presence from 700 brands and manufacturers from 32 countries at HGH India, the trade and professional buyers can expect a never before range of merchandise which will help them boost their business potential for the upcoming Diwali and festive retail season.

The six focus areas of HGH India are World of Sleep | Home furniture |Walls and Windows | Floor & Décor | Smart Kitchen and Kids Home.

This edition of HGH India has generated tremendous excitement among retailers and distributors. What sets it apart is the introduction of the home furniture category. The event is expected to attract a significant presence of architects and interior designers who are eager to explore the abundant sourcing opportunities available. HGH India’s July 23 will culminate on 7^th July and will be back with its 14^th edition on Dec 13^th -16^th 2023 in Greater Noida.