| Riding on the back of technological improvements, falling prices due to competition, aggressive and innovative marketing and declining import tariffs, the Indian consumer durable sector is poised for a quantum leap, a Ficci study reveals.
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| The survey highlights the growth trends in both white goods and consumer electronics segments during the festive season this year and projects sustained growth during 2007-08 because of emerging opportunities and strong fundamentals of the economy.
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| According to the projections of the survey, high-end flat panel TVs, including both plasma and LCD, are likely to witness 100 per cent growth.
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| Other categories which are likely to achieve growth rates of more than 20 per cent in terms of quantity produced include split air conditioners (60 per cent), frost-free refrigerators (54 per cent), fully automatic washing machines (35 per cent) and microwave ovens (35 per cent).
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| The sectors which are expected to record high growth rates of 10 to 20 per cent in April-March 2007-08 over the corresponding period previous year include refrigerators (11 per cent), colour television (15 per cent), window air conditioners (18 per cent), semi-automatic washing machines (16 per cent), watches (11 per cent) and clocks (10 per cent). The black and white TV segment is likely to record negative growth of 20 per cent.
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| The market for non-IT consumer durable goods, estimated at about Rs 35,000 crore in 2006-07, is expected to achieve about 12 per cent overall growth in 2007-08, the survey said.
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| The rural consumer durables market is growing faster at around 25 per cent annually as against the urban market, which is growing at 7-10 per cent only.
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| The survey also emphasised that the urban market has now become a replacement and upgradation market.
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| Despite recent price hikes announced by companies to offset rising costs, consumer preference for high-end quality and high-value products has driven growth of the consumer durable industry across all segments and the trend will propel growth in the future, the survey added. |
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