CEAMA

The blistering heatwave this year has skyrocketed the demand for room air-conditioners across the country, expecting a record annual sale of around 14 million units, according to the Consumer Electronics and Appliances Manufacturers Association. The industry had "record-breaking figures" for sales of air-conditioners in May and expects a surge of 30 to 40 per cent in volume growth in summers alone, Consumer Electronics and Appliances Manufacturers Association (CEAMA) President Sunil Vachani told PTI. Soaring temperatures and heat waves have now made AC a "quintessential requirement" for households across urban areas, he said. The Indian AC market is also evolving helped by energy-efficient models that are suitable across income brackets and by investment by the companies in indigenous manufacturing units of components. "As the market evolves, we expect annual sales volumes to be around 14 million units, highlighting the sector's robust expansion," Vachani said. The Indian resident

CEAMA has been pushing to have the government lower the GST charge on products to help give the sector a boost

Bolstered by premiumisation trends, pent-up demand and policy initiatives, the country's appliances and consumer electronics sector expects to continue on the double-digit growth trajectory in 2023, as companies seek to expand capacity and roll out new-age smart products. Learning the hard way in the wake of the global supply chain disruptions caused by the coronavirus pandemic and prolonged lockdown in China, leading companies in the sector are focusing on enhancing production capacity as well as domestic supply chain to reduce dependence on imported components. All said, geopolitical developments and rupee depreciation could have an adverse impact on companies. Appliances & Consumer Electronics (ACE) industry body CEAMA is "optimistic about good growth in 2023 as well" and expects to almost double the value of the industry in the next three years to Rs 1.48 lakh crore by 2025, as well as make the country an alternative hub for exports. In 2022, ACE industry logged an overall ...

The industry needs to become more and more backwards integrated with its manufacturing, strengthen its component base and get price competitiveness

CEAMA said even before the call to boycott Chinese products, various companies had already started to look for alternative sources due to disruptions of supplies following the lockdown in China

CEAMA further said the industry is well versed to address the environmental concerns