Consumer durables hope for a turnaround

Consumer durable firms are pinning their hopes on the upcoming festival season, despite rising concerns about a consumption slowdown. Companies have lined up new product ranges and are hoping to sweeten the deal with far more aggressive financing and promotional offers this season.

Key players in the industry said they are targeting double digit growth in sales.

Talking about industry expectations, Kamal Nandi, President of Consumer Electronics and Appliances Manufacturers Association (CEAMA), said, “In the first quarter of this fiscal year, the consumer durables industry witnessed good sales driven by strong demand for cooling products.