Amid low penetration levels and rising aspirations of people, the Consumer Electronics and Appliances Manufacturers Association (CEAMA) President Sunil Vachani has said that the consumer durables industry can witness huge growth in the coming years.
CEAMA President said while the industry witnessed a strong festival season, a huge potential for growth remains, further adding that the industry is expected to grow to Rs 1.48 lakh crore by 2025. Besides, he said 'On the investment front, the country's industry has started a strong investment cycle with the PLI (Production Linked Incentive) scheme catching pace, significantly in mobiles, AC components, lighting and IT hardware'.
According to the Consumer Electronics and Appliances Manufacturers Association, the industry is also hopeful of robust sales of cooling products such as ACs and refrigerators, given predictions of high temperatures in the coming year.
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