CEAMA registers 30% growth in consumer durable industry

Consumer Electronics and Appliances Manufacturers Association has deliberated about the current trends in the consumer durable industry.The Indian consumer durables industry has witnessed a considerable change over the last few years. Changing lifestyle, higher disposable income coupled with greater affordability, boom in the real estate and housing industry and a surge in advertising has been instrumental in bringing about a sea change in the consumer behavior pattern.

The Indian consumer durable industry is witnessing a huge growth of 30% owing to increase in summer sales which further lead to highest growth of 50% in sales of Refrigerators and Air Conditioners. The last quarter also saw phenomenal sales especially in the display category which includes Conventional Flat Panel Displays (PDPs, LCDs and Flat screen TVs). The industry also witnessed a 40% healthy growth in Home Appliances Business.

Speaking at the occasion, Dr. Y.V Verma, President, CEAMA said, "The consumers nowadays prefer to use devices and products in-built with smart technology and design innovations which are more advanced that makes their life easy and consume less time. The consumers not only focus on the functional benefits of the products but also on the aesthetics added with the product."

CEAMA expects increase in sale of consumer electronics during festival season. The Southern India will witness a considerable increase in sale from July onwards owing to Onam, one of the main festivals in Kerala. Also, the industry foresees the upcoming FIFA world cup as a huge opportunity to contribute to significant rise in TV sales. With the onset of monsoon season it is predicted that demand for washing machines will also increase.

Dr. Y.V. Verma, President, CEAMA, Mr. Rajiv Bajaj, Hony. Secretary, CEAMA Mr. Ravinder Zutshi, Immediate Past President, and Mr K.S. Raman, Past President CEAMA along with other dignitaries were present at the occasion to highlight the recent developments and observations related to the industry.