Consumer Durables News

Interim budget’s housing push may lead to home run for TV, fridge sales



Kolkata: Consumer electronic companies are hopeful that the interim budget’s focus on housing for the middle class and in rural areas as well as solar energy for households will boost sales of consumer appliances like refrigerators, washing machines, AC and televisions in 2-4 years.
A jump in the housing sector is a huge positive for appliances sales, industry executives said.

Havells India chairman and managing director Anil Rai Gupta said the housing schemes will open up huge opportunities for electrical and appliance sales, improving demand in the mid-to-long term, while the solarisation scheme will create opportunities to sell solar appliances.

Sunil Vachani, chairman of Dixon Technologies, said households going for solarisation scheme can save money that would boost their discretionary spending. “There is an opportunity for a huge spurt in demand for the sector,” he said.
Godrej Appliances business head Kamal Nandi said the benefits from the proposed housing, urbanisation boost and solar energy schemes will lift sales in the medium to long term, though there are no boosters for the industry in the short run. The white goods industry has been growing sales by 6-8% by value in the last 2-3 years due to increase of product prices and premiumisation.

(You can now subscribe to our Economic Times WhatsApp channel)



Source link