Building Materials: Rishabh Agarwal, Director, Responsive Industries

Investec India hosted Rishabh Agarwal, Director, Responsive Industries to understand the changing landscape in the vinyl flooring sector and the impact it is seeing due to the COVID19 pandemic. There has been rapid pace of development in flooring industry and the preferences of flooring has been migrated from hardwood to ceramic, then to laminate and now from laminate to resilient or vinyl flooring. Luxury Vinyl Tile (LVT) has sparked the industry and is set to be the next biggest evolution in flooring. Globally, LVT market contributes 53.0% of total vinyl flooring market by sales volume. In 2018, LVT represented second most popular type of vinyl flooring. India, however, observed only a meager 11.2% market-share of LVT in 2018, and that reflects the humongous growth opportunity in this segment.