Growth of Consumer Durable Industry in India - Infographic

The government anticipates that the Indian electronics manufacturing sector will reach US$ 300 billion by 2024–25.

Advantage India

Growing
Demand

* The Indian room air conditioner market is projected to reach Rs. 50,000 crore (US$ 5.6 billion) by FY29.

* 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.

Opportunities

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

*During (April-June) 2024, electronics exports reach US$ 8.44 billion. With robust growth, India aims to achieve electronics manufacturing worth US$ 300 billion in electronics exports of US$ 120 billion by FY26.

* 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- March 2024, electronic goods attracted FDI inflows of US$ 4.83 billion.

* Haier appliances plans to invest ~ Rs. 800 crore (US$ 96.28 million) in current financial year, with further initiatives in pipeline.

Snapshot Showcase Infographics Reports

Last updated: Sep, 2024

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