look news india
Mumbai: By fiscal 2030, the size of the consumer durables market in India is expected to grow to Rs 5 lakh crore by the Confederation of Indian Industry (CII). CII's National Committee on Consumer Electronics and Durable Goods also said that the country's consumer durables market will become the fourth largest in the world in the next three years.
Committee Chairman B said that the credibility of Indian products is increasing in the world, however, it is necessary to create a strong quality system and accept standardization in the labor sector. Thiagarajan said while speaking at a conference.
Many opportunities are expected to arise in the value chain of the consumer durables sector in the next decade.
India has already become the fastest growing market for consumer durables in the world and will become the fourth largest market by 2027 and the market size is expected to grow to Rs 5 lakh crore in the next six years.
The support provided by the government through various schemes including PLE has increased competitiveness in this sector of the country and helped India become self-reliant.