Furniture Park in Greater Noida to be Launched in January
The Greater Noida is going to become a furniture hub as Yamuna Expressway Industrial Development Authority (YEIDA) will build a furniture park on 300 acres land spread over sectors 28 and 29. Officials said 4,000 sqm of the total area will be allotted by draw of lots. So far, 15 firms have shown interest in the scheme that will be floated in January next year. The park will also have antique furniture and together it is likely to push sales, as Jewar airport is coming up in the vicinity, officials said.
Mr Arun Vir Singh, CEO, YEIDA, said “We will develop 300 acres in sectors 28 and 29 as a furniture park/wood ware hub. This cluster will be close to the handicraft and apparel hub, also being developed by YEIDA. The scheme will be floated in January 2021 and we already have 15 big companies that have shown interest in the project.”
Under the furniture park scheme, 4,000 sqm would be divided into plots and allotted by draw of lots. “Both sectors 28 and 29 have 150 acres each that would be developed,” said Singh, adding that the rate for up to 4,000 sqm land in the industrial sectors is Rs 6,670 per sqm.
According to Rakesh Kumar, executive director, Export Promotion Council for Handicrafts (EPCH), the overall exports of handcrafted wooden furniture and wood ware in 2019-20 was Rs 5,494.85 crore, while the manufacturing segment earned Rs 2,747.42 crore in the same period. The figure in 2018-19 was Rs 5,311.59 crore and Rs 2,655.79 crore, respectively.
“A furniture park near Jewar airport would definitely boost exports and help the manufacturing segment of Indian wood ware, which not only includes furniture like beds, sofas, tables and cabinets, but also decorative items like statues, frames and figurines,” said Kumar. He added that European countries like France, Germany and UK are major export hubs for furniture.
North India is a major exporter of furniture from the manufacturing hub such as Jodhpur, Jaipur, Saharanpur, Muradabad, etc. The new furniture park at Greater Noida will definitely help this sector to grow more.