Consumer Durable Segment to Durability Consume India’s Market
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The per capita GDP of India is expected to reach US$ 3,273.85 in 2023 from US$ 1,983 in 2012 with max spending in consumer durables
Indian appliance & consumer electronics (ACE) market:
•CAGR: 9%. Mcap: US$ 10.93B in 2019
•By 2025: US$ 21.18B
Consumer durable loans in India increased by 43% YoY to Rs in FY20. Companies that are planning their growth trajectory in this sector, lately: In Jan’20, Godrej appliances will foray into the air-cooler segment to acquire a market share of 15% by 2025. In May’20, Philips announced an investment of Rs 250-300 Cr to boost its manufacturing & R&D facilities in India
In Dec’19, Kent RO Systems Ltd announced an investment of Rs 150 Cr to set up a new manufacturing unit by 2023. In Nov’19, Nokia entered in partnership with Flipkart to enter the consumer durables market. In Oct’19, Apple Inc. entered an agreement with Maker Maxity mall, co-owned by Reliance Industries, to open its 1st company-owned outlet. Micromax to invest US$ 89.25M by 2020 to become a consumer electronics company as the Chinese smartphones take some heat. Rising disposable income, easy access to credit, electrification of rural areas & online sales aid growth in #demand
How far do you still India is, from full being called “Digital-aatmanirbhar India”?
