New Delhi, Feb 20 : About a dozen Finnish companies will be participating for the first time in the biennial IndiaWood exhibition that begins in Bengaluru from March 8.
The decision by the Finnish wood firms to participate in the 10th edition of the event was taken because there is "an enormous potential in India" and in order for them "to capitalize on the opportunities" and interact with the Indian Wood Industry, a statement by the Embassy of Finland said here.
The event will run from March 8 to 12.
"With such promising business possibilities, it is an excellent opportunity for the Finnish companies to come forth and connect with their counterparts here in India to discuss mutually beneficial trade and what better platform for that than India Wood," Finnish Ambassador to India Nina Vaskunlahti said in the statement.
"We are excited and hopeful to get the right kind of direction to tap the Indian market which has recorded a high consumption figure for wood in the past few years and is inclined towards a much higher growth in the coming times."
IndiaWood is one of the world's leading exhibitions for the furniture manufacturing and the woodworking industry.
It is organized once every two years and offers a comprehensive overview of the prevailing technological innovations and the latest manufacturing trends in furniture manufacturing, woodworking technologies, tools, fittings, accessories and raw materials.
According to a study by the World Bank, India's organized furniture industry is expected to grow 20 per cent per annum over the next few years and is projected to cross (Dollar) 32 billion by 2019.
As the fourth largest sawn softwood exporter in the world, Finland is known for its fine wood and is considered to be an ideal place in the world for tree growth.
The Wood from Finland booth at IndiaWood will be inaugurated by the Finnish Ambassador.