Indian Consumer Durables Industry Analysis

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

Advantage India

Growing
Demand

* Due to a flourishing economy and changing demographics, India's smartphone market is projected to grow to US$ 90 billion by 2032.

* The headset market revenue in India is projected to reach US$ 77 million by 2027 at a CAGR of 4.7%, driven by rising adoption of wireless headsets among consumers.

* 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

* India’s wearable market registered another record quarter, shipping 134 million units in CY 2023, a growth of 34 YoY.

* During December 2023, electronics exports grew by 14.41% yoy, the highest monthly export in FY.

* With robust growth, 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.

* The PLI scheme for White Goods (ACs and LED lights) spanning FY 2021-22 to FY 2028-29 approves 64 applicants with a committed investment of US$ 814 million (Rs. 6,766 crore).

* 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-December 2023, electronic goods attracted FDI inflows of US$ 4.57 billion.

* Haier Appliances India invested US$ 48.14 million (Rs. 400 crore) in phase 2 expansion, commencing manufacturing at Noida-Greater Noida, Uttar Pradesh facility for further growth.

Last updated: Feb, 2024

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