India Consumer Durables Market To Reach Rs 3.25 Lakh Crore

India’s consumer durables industry includes products such as televisions, refrigerators, washing machines, and air conditioners.

A BCG-CII report says the market could grow to Rs 3.25 lakh crore by 2030.

The industry’s share of trade is currently below 1%.

India is expected to make more of these products and parts locally.

However, some important components are still difficult to produce domestically.

These include television screens, air-conditioner compressors, refrigerator insulation, and washing-machine motors.

The report says companies also need to spend more on research and development.

It recommends using newer forms of artificial intelligence and building factories that can serve both Indian and export markets.