Godrej Interio lines up ₹6-bn expansion

In a bid to expand its product portfolio, Godrej Interio, the furniture arm of the diversified Godrej Group, has lined up the investment of almost ₹6 billion, said senior vice-president Subodh Mehta, adding that it has already invested close to ₹4 billion in its plants and another ₹2 billion would be invested as it currently operates 7 plants in different states, including Uttarakhand. Currently, the domestic market is pegged at ₹620 billion, of which the organized sector share is relatively smaller at 15% but growing fast in tune with the rising incomes and 'decor consciousness' among the young working population. However, the company predicts that competition posed by unorganized segment and international players would be limited owing to issues pertaining to the Goods and Services Tax (GST) and e-way bill. Further, India's current import policy would make it costlier to sell imported furniture.