Indian Consumer Market

India’s consumer durables industry's market size is expected to reach US$ 34 billion by 2025.

Advantage India

Growing
Demand

* India’s smart TV market grew by 74% YoY in the second quarter of 2022, with Xiaomi being the leader with a 13% market share, followed by Samsung at 12%.

* The dishwasher market in India is expected to surpass US$ 90 million by 2025-26, driven by rising demand from metro cities such as Mumbai, Hyderabad, Delhi and Bangalore.

Opportunities

* Tech players are focusing on tapping the Indian consumer electronics market by developing an electronic components manufacturing base in India and encouraging exports.

* Consumer electronic brands are focusing on expansion in the Indian smart wearables market.

* India aims to achieve electronics manufacturing worth US$ 300 billion in electronics exports of US$ 120 billion by FY26.

Policy
Support

* 100% FDI allowed in the electronics hardware-manufacturing.

* In March 2022, the government approved 14 companies under the production-linked incentive (PLI) scheme for IT hardware. Over the next four years, these companies are expected to fuel total production of Rs. 1,60,000 crore (US$ 19.23 billion).

* In March 2023, Samsung invested in setting up smart manufacturing capabilities at its mobile phone plant in Noida.

Increasing
Investments

* In FY23, Godrej Appliances announced plans to invest US$ 25.11 million in the capacity expansion of its premium range.

* Between April 2000-September 2023, electronic goods attracted FDI inflows of US$ 4.42 billion.

* FDI in the Appliances and Consumer Electronics (ACE) industry has nearly doubled to US$ 481 million by June 2022, up from US$ 198 million in 2021.

Last updated: Feb, 2024

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