Forestry and its products provide partial or full livelihood support to over 1.6 billion people worldwide. Although this dependency has several positive aspects, it has also resulted in several negative impacts such as global warming, climate change, depletion and unsustainable uses of natural resources. In fact, policymakers often face challenges to control the trade-off between forest product utilization and forest resource conservation mainly from the perspective of sustainability. To trace and justify such complex phenomenon, the study considers majority of forest areas in the state of West Bengal, India. The study comprises of two steps. First, a dynamic model for timber and non-timber forest products has been developed for the major forest areas of West Bengal. Second, several simulation exercises are done by calibration of the parameters attached with the variables of the study. The study perturbed the values of various important parameters and performed the sensitivity analysis. The model along with sensitivity analysis show that the forest-fringe communities are very much aware about the sustainable use of both forms of forest products as they have no other option due to lack of substitute employment opportunities. The study could be enhanced and the dynamic model developed by us could be applied on other parts of India for testing the impact of forestry on the lives of forest-fringe people.