New Delhi. The business of the Indian appliance and consumer electronics industry will more than double to reach Rs 2 lakh crore in the next five to six years on the back of growth in the economy and domestic market. This was stated by Eric Breganza, president of the industry body Consumer Electronics and Appliance Manufacturers Association (SEMA).
After taking over as the new chairman of CEAMA, Breganza said that in order to keep pace with the increasing demand, the industry also needs to build a stronger component base in India to remove its dependence on imports. He said that for this, schemes like Production Linked Incentive Scheme (PLI) are also present in the country.
Also read- Elon Musk’s Starlink service will start in India from December 2022, will get high-speed internet
The President of the industry body said that the industry needs to be more integrated with its manufacturing, strengthen its component base and achieve price competitiveness. Breganza said that all these aspects are most important to accelerate the growth of the industry and make India a major manufacturing and export base in the region.
Also read- Mahindra & Mahindra completes 76 years, Anand Mahindra said heart touching thing to the employees, know everything
At present, the Indian market for Appliances and Consumer Electronics is around Rs 75,000 crore. Eric Breganza said that within the next 5-6 years this market will be 2 lakh crore rupees.
Read Hindi News Online Watch More Live TV on Hindi website. Know related to country and abroad and your state, Bollywood, sports world, business News in Hindi.
.
Orignally published at Tailored Stash
0 Comments