The federal government is investing an additional $600,000 to spur efforts to boost lumber exports to India, a potentially large market that’s home to about 1.2 billion people.
Natural Resources Minister Joe Oliver announced Wednesday the funding to Forest Innovation Investment India (FII India). Ottawa has already provided $1.6 million to FII India, which is also funded by the BC government.
The initiative showcases the use of Canadian wood to makers of office furniture, doors and window manufacturers, and builders.
Canada Wood to India
Two-way trade between Canada and India totalled $5.1 billion in 2012, including 53,000 cubic metres of BC lumber valued at $8.7 million. Like China, rising disposable incomes in India are fuelling demand for housing and furnishings.
India’s current demand is mainly for hardwoods but the BC government also expects to see increase demand for softwoods and specialty species.