Consumer Durables Growth Driven by Energy Efficiency and PLI Policies

The expansion of the consumer durables sector will be propelled by the uptake of more energy-efficient products, a shift towards premium and interconnected appliances, and supported by initiatives such as PLI on the supply side, added Panasonic Life Solutions India Chairman Manish Sharma. 

"In 2025, new-age technologies such as Artificial Intelligence (AI)/Internet Of Things (IoT), cloud computing, robotics, and automation to name a few, will continue to be leveraged to democratise technological transformation and deliver smart ecosystem solutions to the consumers," he said.

Additionally, the sector is focusing on improving localisation, research and innovation, as well as providing progressive, sustainable solutions, driving India towards its goal of becoming a global manufacturing hub, stated Sunil Vachani, President of the Consumer Electronics and Appliances Manufacturers Association (CEAMA).

"Initiatives such as the production-linked incentive (PLI) schemes and Make in India have been instrumental in enhancing domestic manufacturing and attracting global investments," he said.

The Consumer Electronics and Appliances (ACE) sector anticipates maintaining a 12-14 percent growth in value in 2024, indicating strong consumer demand for innovative and energy-efficient products, according to Vachani. The year 2024 proved to be a turning point for the industry, as it recovered from difficulties like increasing raw material prices, inflation, and supply chain issues, showing resilience through the adoption of technology and innovation.