protection of forests and its wildlife till their descendants get educated and diversify into industrial and service sectors. Economics Significant forest products of India include paper, plywood, sandalwood, timber, poles, pulp and matchwood, fuelwood, sal seeds, tendu leaves, gums and resins, cane and rattan, bamboo, grass and fodder, drugs, spices and condiments, herbs, cosmetics, tannins. India is a significant importer of forest products. Logs account for 67% of all wood and wood products imported into India due to local preference for unprocessed wood. This preference is explained by the availability of inexpensive labour and the large number of productive sawmills. In trade year 2008–2009, India imported logs worth $1.14 billion, an increase of about 70% in just 4 years. Indian market for unprocessed wood is mostly fulfilled with imports from Malaysia, Myanmar, Côte d'Ivoire, China and New Zealand. India is growing market for partially finished and ready-to-assemble furniture. China and Malaysia account for 60% of this imported furniture market in India followed by Italy, Germany, Singapore, Sri Lanka, the United States, Hong Kong, and Taiwan. The Indian market is accustomed to teak and other hardwoods that are perceived to be more resistant to termites, decay and are able to withstand the tropical climate. Teak wood is typically seen as a benchmark with respect to grade and prices of other wood species. Major imported wood species are tropical woods such as mahogany, garjan, marianti, and sapeli. Plantation timber includes teak, eucalyptus, and poplar, as well as spruce, pine, and fir. India imports small quantities of temperate hardwoods such as ash, maple, cherry, oak, walnut, beech, etc. as squared logs or as lumber. India is the world's third largest hardwood log importer. In 2009, India imported 332 million cubic metres of roundwood mostly for fuel wood application, 17.3 million cubic metres of sawnwood and wood-based panels, 7.6 million metric tonnes of paper and paperboard and about 4.5 million metric tonnes of wood and fiber pulp. Biodiversity in Indian forests Indian forests are more than trees and an economic resource. They are home to some of earth's unique flora and fauna. Indian forests represent one of the 12 mega biodiverse regions of the world. India's Western Ghats and Eastern Himalayas are amongst the 32 biodiversity hotspots on earth. India is home to 12% of world's recorded flora, some 47000 species of flowering and non-flowering plants. Over 59000 species of insects, 2500 species of