ON PRESENT SCENARIO: Our Industry is good and the channel partners’ payments are very good and much safer. There would be three or six months of trouble time, it will depend on trajectory of Corona curve. But, believe me at the end of the day India will be the winner because many countries are going to avoid China for next investment. All these benefits will come to India. Lots of furniture manufacturing will come to India and by the next year this time we may be saying “WOW! We did not have expected this level of growth ever!” So, India is going to get good benefit out of it. Japanese companies have already announced in this regard. Americans are reducing their investment in China; many duties are being imposed by them. Even the Indian government is imposing safeguard duties on MDF. Government is supporting us, so these are the things which will shift the focus back to India.
ON PLYWOOD & OTHER PRODUCTS: Plywood will sustain in the market forever, but definitely the growth of plywood would be less. At present it may be at 7-8% but MDF is having growth of 20-25%. We always say that panel will grow overall and we are panel based company. At the end of the year we would probably have turnover of 30% or a bit less than the last year to the corresponding period. The recovery from this pandemic is being assumed as 3 months, 6 months or 9 months. Look at the positive side of it, there is huge golden line in future. If I am not wrong there was import of $ 2 bn from China in which modular and panel products accounted more than 50,000 cr. The domestic furniture market is around Rs 2 lakh crore and among them the organised segment may be Rs 25,000 cr. I can bet or give you in writing that we would have a golden era post this pandemic because everything will grow positively. Few days before the government has initiated to impose anti-dumping duty against import of MDF. There as 5% duty in furniture import and the talks have been that they want to increase it. So, with negativity going around China, India is going to be benefited and in a few years become a super power. We have to maintain just checks and balances and pass out this time of crisis.
GROWTH OF READYMADE FURNITURE : I think for sure the readymade furniture market will get greater advantage because its trend is already growing and the effect of globalisation and companies coming into India we can expect 25% growth in furniture from its current growth of 10%, correspondingly for panel industry the growth will be much high post COVID 19 crisis from its 25% at present. It may happen two years later. It would be the golden era for modular furniture and readymade furniture market. I assume that carpentry might go little a bit more down.