The consumer durables market in India is worth $20 billion, with a CAGR of 9%. India’s liberalization post-1991 has provided its skilled workforce with employment opportunities. The country’s infrastructure has also improved significantly, with all its villages now electrified, and the disposable income of its citizens has increased, resulting in the largest middle-class population in the world.
Despite the Indian government approving 100% FDI for the consumer appliances and electronics industry, there are stringent duties on imported goods, making it profitable for brands to manufacture in-house. This creates a demand for local suppliers and employs local talent in India. With these factors at play, the requirement for consumer durables is high in India, and the market is expected to grow even further in the coming years.
