Explore Business Standard
Don’t miss the latest developments in business and finance.
Home Appliances
Electronics maker Elista India will invest Rs 250 crore to set up a manufacturing plant in Kadapa, Andhra Pradesh, in five years, which will help the company meet the domestic and exports markets demand, Chairman and Managing Director Saket Gaurav said. The investment for the new plant would be funded equally from equities and debts, as the company is in talks with some financial institutions, said Gaurav. "We plan to put our investment in a phased manner. Initially, we will be investing around Rs 50 crore, which will produce almost one million units of smart TVs and monitors," he said, adding, "in five years, we will invest almost Rs 250 crore in this facility." The company has plans to get into the production of home appliances like refrigerators, washing machines and dishwashers from this facility, said Gaurav, adding that it would create around 500 jobs. "The revenue which we can generate out of this plant would be close to Rs 1,500 crore (when fully completed), combined from .
What's behind Jio's rise to world's second strongest telecom brand? Will cyber security create jobs? Is it time to bet on consumer appliance stocks? What is a passive fund? All answers here
The demand for the heating appliances segment in October-December 2022 has seen a 33 per cent jump compared to that of the same period a year ago, e-commerce major Flipkart said on Tuesday. The demand for heating appliances has reportedly increased across the country, including in tier-2, 3 cities and beyond such as Arrah, Darbhanga, Delhi, Gaya, Ghaziabad, Lucknow, Muzaffarpur and Patna, according to Flipkart. "The demand for the heating appliances segment has seen a spike of 33 per cent during October-December period as compared to the same period last year," Flipkart said in a statement. India witnesses a dip in temperature as the winter sets in early in certain parts of the country. According to insight from Flipkart, consumers are increasingly willing to spend on products with smart and safety features. "The demand for heating appliances has grown by a third among customers across the country and particularly in the North. We are witnessing a greater predisposition among ...
Prices of refrigerators are likely to increase by up to 5 per cent as the revised norms of the Bureau of Energy Efficiency (BEE) have become applicable from January 1 this year. According to manufacturers like Godrej Appliances, Haier and Panasonic, implementation of the new norms may put an additional burden of 2-5 per cent on consumers, depending on the models. Besides tightening the labelling, the new norms also mandate separate star labelling for freezers and refrigerator provisioning units (storage part) of the frost-free models. "Now, we have to declare labelling for both. That is the new change," said Godrej Appliances Business Head and Executive Vice President Kamal Nandi told PTI. When asked about the price increase, he said: "In every energy efficiency tightening, cost inputs go up a little bit to achieve those efficiencies through better insulation and around 2-3 per cent price hike because of this will be happening, depending on various models and star ratings". Moreov
Appliances and consumer durable makers are looking for up to 35 per cent growth in sales during this festive season on increasing demand for premium products and price hikes. Some of the companies, however, are "cautiously optimistic" about the sales of their entry-level mass products in the country's hinterlands. Companies such as Panasonic, LG, Sony, Samsung, Haier, Godrej Appliances, Voltas, Thomson and BSH Home Appliances expect this festive sale, which started with the onset of Onam in the south, to be better than the last year and even cross the pre-Covid sales volume. The festive season, which starts from Onam and covers Durga Puja and ends with Diwali, contributes around one-third of the overall annual sales value across categories of the industry, which is estimated to be around Rs 75,000 crore. Makers are finalising schemes such as extended warranties, easy EMIs and investing in promotional activities to attract customers, but are worried also over sales of entry-level ma
The backlog of cargo and container ships near Shanghai port is going to affect the supply of consumer durables in India. We analyze the looming crisis to understand its impact on consumers
Manufacturers of summer appliances are happy with the recent spur in demand, but are also apprehensive of lockdown in parts of China leading to supply chain disruption. Here's an insight into it
Will AC-fridge makers' windfall hit the Chinese wall? How are India's municipal corporations faring? What are the markets expecting from RBI policy? What are Nostro & Vostro A/c? All answers here