Promising growth of watches & clocks, washing m/cs
12 Dec '05
2 min read
In a comprehensive survey carried out on the Indian industries on the consumer durable goods sector, the Federation of Indian Chambers of Commerce and Industry (FICCI), particularly the watch and clock have registered growth of 10 per cent and 8 per cent from 20.6 million units and 26.3 million units in 2003-04 to 22.6 million units and 28.4 million units in 2004-05.
Washing Machines is estimated to have grown by 18.1 per cent from 1.35 million units in 2003-04 to 1.6 million units in 2004-05.
Based on feedback and interaction with representatives of consumer durables industry, allied industry organizations, associations, Government agencies and public sector undertakings, the FICCI Survey, reveals that sector is poised for a quantum leap due to technological improvements, falling prices due to competition, aggressive marketing and declining import tariffs.
The first half of the year and the first quarter of the financial year, 2005 has seen a little setback for the domestic consumer electronics and durables industry with the two largest segments of the industry - colour televisions (CTV) and refrigerators facing decline in production and sales during the period.
But the Air conditioners and washing machines market have grown at the rate of 20%.
This shift is also explained by the growing trend of products being manufactured in the organized sector of the economy and the narrowing down of the price differential between branded andnon-branded goods.
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