The Department for Promotion of Industry and Internal Trade (DPIIT) has highlighted exports as a critical driver for the next growth phase of India’s consumer durables sector. This sector, which includes appliances, electronics, and furniture, is poised for significant expansion due to various domestic and international factors.
Source:- bbc news
India’s consumer durables market has shown resilience, with increasing urbanization, rising disposable incomes, and changing consumer preferences leading to higher demand for quality products. The DPIIT has emphasized the importance of enhancing manufacturing capabilities to meet both domestic and export demands. The government’s initiatives, such as the Production Linked Incentive (PLI) scheme, are designed to incentivize domestic manufacturing, making it easier for companies to scale production and improve competitiveness.
Source:- news 18
Moreover, global trends favoring sustainability and energy-efficient products are creating new opportunities for Indian manufacturers. By focusing on innovation and technological advancements, Indian companies can cater to international markets increasingly demanding eco-friendly products. The DPIIT also stressed the need for improving supply chain efficiencies and logistics to support exports.
The consumer durables sector is expected to leverage free trade agreements (FTAs) to penetrate new markets and enhance export performance. Strengthening partnerships with countries in the Asia-Pacific and beyond will be essential for tapping into global demand.
Additionally, the government is keen on fostering a favorable business environment through regulatory reforms and infrastructure development. By addressing challenges such as import dependency for critical components, India can enhance its self-reliance and bolster the consumer durables sector.
In conclusion, by focusing on exports and leveraging government support, India’s consumer durables sector is set to enter a new growth trajectory, positioning itself as a significant player in the global market.
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