{"id":14747,"date":"2024-02-12T15:33:06","date_gmt":"2024-02-12T04:33:06","guid":{"rendered":"https:\/\/woodcentral.com.au\/?p=14747"},"modified":"2024-10-21T20:19:57","modified_gmt":"2024-10-21T10:19:57","slug":"indias-tiger-economy-to-fuel-global-timber-supply-for-years","status":"publish","type":"post","link":"https:\/\/woodcentral.com.au\/indias-tiger-economy-to-fuel-global-timber-supply-for-years\/","title":{"rendered":"India&#8217;s Tiger Economy to Fuel Global Timber Supply for Years to Come!"},"content":{"rendered":"\n<p>India has emerged as one of the United States&#8217; most important export markets, with 116,000 cubic metres of softwoods shipped from the US&#8217;s West Coast to India last year alone.<\/p>\n\n\n\n<p><a target=\"_blank\" href=\"https:\/\/www.globalwoodmarketsinfo.com\/india-emerges-as-biggest-growth-market-for-us-hardwood-lumber\/\" rel=\"noreferrer noopener\">Already its fastest-growing hardwood market<\/a>, the US is now capitalising on India&#8217;s booming construction industry,<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/indias-construction-sector-levels-up-housing-demand-spurs-economy-2023-12-02\/\" rel=\"noreferrer noopener\">&nbsp;growing more than 13% last quarter (from 7% the quarter before)&nbsp;<\/a>&#8211; making up for a drop in Chinese demand.<\/p>\n\n\n\n<p>Last year, Wood Central reported that Indian demand for Roundwood will grow&nbsp;<a target=\"_blank\" href=\"https:\/\/www.itto.int\/direct\/topics\/topics_pdf_download\/topics_id=6813&amp;no=1&amp;disp=inline\" rel=\"noreferrer noopener\"><em>70%<\/em><\/a>, from 57 million cubic metres in 2020 to 98 million cubic metres in 2030, driven to a large degree by a surge in construction activity.<\/p>\n\n\n\n<p>According<a href=\"https:\/\/groundreport.in\/why-india-needs-to-import-timber-from-other-countries\/#:~:text=As%20per%20the%20Centre%20for%20Science%20and%20Environment,the%20remaining%2033%20million%20cubic%20meters%20are%20imported.\" target=\"_blank\" rel=\"noreferrer noopener\">\u00a0to the Indian Centre for Science and Environment<\/a>, the country&#8217;s 2022 demand for timber was 63 million cubic metres &#8211; 30 million cubic metres for domestic production and 33 million cubic metres from imported sources.<\/p>\n\n\n\n<p>The race to make up the shortfall has seen India compete with China to become the world&#8217;s largest consumer market for structural timbers, with the Modi Government grappling with a 19 million unit shortage in housing, which will double over the next five years.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">World trade in action: here is Indian Bulker loading logs in Uruguay recently \u2013 thanks to <a href=\"https:\/\/twitter.com\/AffinityShip?ref_src=twsrc%5Etfw\">@AffinityShip<\/a> for the video! <a href=\"https:\/\/twitter.com\/hashtag\/jlauritzen?src=hash&amp;ref_src=twsrc%5Etfw\">#jlauritzen<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/lauritzenbulkers?src=hash&amp;ref_src=twsrc%5Etfw\">#lauritzenbulkers<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/drybulk?src=hash&amp;ref_src=twsrc%5Etfw\">#drybulk<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Uruguay?src=hash&amp;ref_src=twsrc%5Etfw\">#Uruguay<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Montevideo?src=hash&amp;ref_src=twsrc%5Etfw\">#Montevideo<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/seafarers?src=hash&amp;ref_src=twsrc%5Etfw\">#seafarers<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/lifeatsea?src=hash&amp;ref_src=twsrc%5Etfw\">#lifeatsea<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/worldtrade?src=hash&amp;ref_src=twsrc%5Etfw\">#worldtrade<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/SeafarersAreKeyWorkers?src=hash&amp;ref_src=twsrc%5Etfw\">#SeafarersAreKeyWorkers<\/a> <a href=\"https:\/\/t.co\/tFWQN0dK7i\">pic.twitter.com\/tFWQN0dK7i<\/a><\/p>&mdash; Lauritzen Bulkers (@j__lauritzen) <a href=\"https:\/\/twitter.com\/j__lauritzen\/status\/1334147970367954944?ref_src=twsrc%5Etfw\">December 2, 2020<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Turning to Australia, New Zealand, Canada, the United States<a href=\"https:\/\/woodcentral.com.au\/india-targets-brazil-for-log-supply-as-plywood-demand-surges\/\" target=\"_blank\" rel=\"noreferrer noopener\">, Brazil<\/a> and even Uruguay, Indian importers are now dominating export orders,\u00a0<a href=\"https:\/\/woodcentral.com.au\/india-drives-91-of-australian-softwood-exports-in-april-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\">with Wood Central reporting that more than 91% of softwood leaving Australian shores arrived in India in April.\u00a0<\/a><\/p>\n\n\n\n<p>And that demand is expected to stay strong for years, with India&#8217;s increasingly confident developers speculating that the country is in the initial stages of a housing growth cycle.<\/p>\n\n\n\n<p>&#8220;The housing market will perform well for another three to four years (at least),&#8221; according to Sanjeev Jain, the managing director at Parsvnath Developers, adding that property sales in India&#8217;s seven largest cities, including Mumbai, New Delhi and Bangalore, rocked 36% in the July-September quarter to 112,000 units.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"youtube-embed\" data-video_id=\"SKYShM6IQUo\"><iframe loading=\"lazy\" title=\"India: &#039;Mad rush&#039; for luxury housing | Latest English News | WION\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/SKYShM6IQUo?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/div>\n<\/div><figcaption class=\"wp-element-caption\"><em>India&#8217;s DLF (DLF.NS) sold a $1 billion upmarket residential project in 72 hours, while rival Godrej Properties (GODR.NS) is offering $3 million apartments to clients selected by invitation, two off-plan sales that are signalling a revival in luxury housing &#8211; footage courtesy of <a href=\"https:\/\/www.youtube.com\/@WION\">@WION<\/a>.<\/em><\/figcaption><\/figure>\n\n\n\n<p>&#8220;First-time buyers drive the home sales, and nearly 80% of the houses have been bought by end users,&#8221;&nbsp;<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/indias-construction-sector-levels-up-housing-demand-spurs-economy-2023-12-02\/\" rel=\"noreferrer noopener\">according to Prashant Thakur, head of research at Anarock, who revealed to Reuters that there was also strong demand from existing homeowners to move to larger apartments.<\/a><\/p>\n\n\n\n<p>&#8220;Demand has been (especially) strong in Mumbai despite surging interest rates,&#8221; according to Jayesh Rathod, director of Mumbai-based Guardians Real Estate Advisory. Before adding that his company has sold over 5,500 flats in Mumbai and on its outskirts in Thane this year, a jump of more than 50% compared to the same period a year ago.<\/p>\n\n\n\n<p>Also fuelling India&#8217;s demand for roundwood is a decision made in 2020 to reverse a 27-year ban on using timber in public buildings.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/woodcentral.com.au\/wp-content\/uploads\/2024\/02\/image-23-1024x1024.png\" alt=\"image 23\" class=\"wp-image-14748\" srcset=\"https:\/\/woodcentral.com.au\/wp-content\/uploads\/2024\/02\/image-23-1024x1024.png 1024w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2024\/02\/image-23-300x300.png 300w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2024\/02\/image-23-150x150.png 150w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2024\/02\/image-23-768x768.png 768w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2024\/02\/image-23-696x696.png 696w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2024\/02\/image-23-1068x1068.png 1068w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2024\/02\/image-23-420x420.png 420w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2024\/02\/image-23-600x600.png 600w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2024\/02\/image-23-100x100.png 100w, https:\/\/woodcentral.com.au\/wp-content\/uploads\/2024\/02\/image-23.png 1320w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><a href=\"https:\/\/woodcentral.com.au\/g20-india-to-lead-in-forest-restoration-circular-economy\/\" target=\"_blank\" rel=\"noreferrer noopener\">As reported at the most recent G20 meeting<\/a>, 38% of Indian tree cover loss is due to mining, with just 3.5% of the country\u2019s tree cover loss due to deforestation.<\/figcaption><\/figure>\n\n\n\n<p>Last year, Wood Central reported that India&#8217;s Ministry of Environment, Forestry and Climate Change (MoEFCC) drove the 2020 decision to lift the ban, citing&nbsp;<a target=\"_blank\" href=\"https:\/\/www.thehindu.com\/news\/national\/cpwd-removes-ban-on-use-of-timber-in-its-buildings\/article31970892.ece#:~:text=The%20Central%20Public%20Works%20Department%20this%20week%20ended,jobs%20and%20encourage%20farmers%20to%20plant%20more%20trees.\" rel=\"noreferrer noopener\">&#8220;a boost for the economy, opportunities to generate jobs and encourage farmers to plant more trees&#8221;<\/a>&nbsp;to make up for a timber and forest deficit.<\/p>\n\n\n\n<p>In the long run, India is investing in a new streamlined transit system for timber and bamboo products, which, along with a new government-backed national standard,&nbsp;<a target=\"_blank\" href=\"https:\/\/woodcentral.com.au\/how-indias-wood-policy-brings-146m-holders-into-global-market\/\" rel=\"noreferrer noopener\">is a vital part of Modi&#8217;s &#8220;Wood is Good: Grow More, Use More&#8221; policy.&nbsp;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India has emerged as one of the United States&#8217; most important export markets, with 116,000 cubic metres of softwoods shipped from the US&#8217;s West Coast to India last year alone. Already its fastest-growing hardwood market, the US is now capitalising on India&#8217;s booming construction industry,&nbsp;growing more than 13% last quarter (from 7% the quarter before)&nbsp;&#8211; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":14771,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wpscppro_dont_share_socialmedia":false,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":[],"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[80,51,38,52,50,37,32,46,39],"tags":[],"ppma_author":[70],"class_list":{"0":"post-14747","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-africa","8":"category-americas","9":"category-architecture-and-design","10":"category-asia","11":"category-australia","12":"category-building-and-construction","13":"category-global-news","14":"category-industry","15":"category-mass-timber"},"authors":[{"term_id":70,"user_id":2,"is_guest":0,"slug":"jason","display_name":"Jason Ross","avatar_url":{"url":"https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/01\/J-Ross-headshot.jpeg","url2x":"https:\/\/woodcentral.com.au\/wp-content\/uploads\/2023\/01\/J-Ross-headshot.jpeg"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/posts\/14747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/comments?post=14747"}],"version-history":[{"count":2,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/posts\/14747\/revisions"}],"predecessor-version":[{"id":14765,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/posts\/14747\/revisions\/14765"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/media\/14771"}],"wp:attachment":[{"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/media?parent=14747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/categories?post=14747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/tags?post=14747"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/woodcentral.com.au\/wp-json\/wp\/v2\/ppma_author?post=14747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}