Manufacturers announced a third round of price hikes this year, with air‑conditioners up 5 % from October 1 and LED TVs and washing machines rising 2‑3 %, citing rising copper, aluminium, steel and freight costs.
Haier Appliances India CEO N S Satish told PTI that the company will see 30‑35 % sales growth by value this festive season, as premium models and easy EMI options attract buyers. A 34‑year‑old mother in Jaipur said she is leaning towards a larger, energy‑efficient AC that she can finance via an EMI.
LG Electronics India’s Sanjay Chitkara expressed confidence that Navratri onward will drive demand, especially for its Essential Series refrigerators that have gained traction in Tier‑2 and Tier‑3 markets. Sony’s Sunil Nayyar projects 15‑20 % value growth, with imaging and television sales hitting 30 % plus, boosted by new launches.
Godrej Appliances head Kamal Nandi highlighted that the festive window accounts for 30‑40 % of annual sales for the sector, and that existing inventory purchased before the price hike will keep prices flat through Diwali. He added that post‑Diwali, new pricing will take effect.
Industry analysts from Boston Consulting Group and CII expect the Indian consumer durables market to grow 8‑10 % annually to reach ₹3‑3.25 lakh crore by 2030. With the festive season looming, manufacturers are preparing aggressive marketing and financing campaigns to meet the projected sales targets.