From January 1, 2020, customers may have to lose more money to buy products like fridges and ACs. This is because, from January, the Bureau of Energy Efficiency (BEE) will introduce new standards to give five-star ratings. With this, companies will have to increase prices up to 6000 rupees.
Onions being sold for Rs 80 a kg in Maharashtra, prices may increase further
Manufacturing technology will change Industry body Consumer Electronics and Appliances Manufacturers Association (CEAMA) said that companies will have to use vacuum panels instead of traditional foam for cooling in fridges and ACs. This will be a challenge for the industry. In addition, there will be a star change in frost-free and direct cooling. CEAMA President Kamal Nandi said that due to the changes in Energy Efficiency Norms since January, it will be difficult to bring five-star refrigerators to the industry.
Companies will have to invest in the factory Companies will have to make new investments in their factories to bring this technology. Right now, no company wants to make new investments, but by not doing so, companies will not be able to get five-star ratings on their products.
IRCTC offers passengers new facility, changes in rules for booking tickets
AC sales up 15% In the first half of this financial year, AC sales have grown by 15%. This is higher than the 35% growth already underway. The association has demanded the government to reduce the GST on AC to 18 % slab. The size of the customer electronics industry is expected to double to Rs 1.48 lakh crore by 2024-25. It said that it is expected to see a boom due to an increase in rural consumption, increasing penetration of retail, a greater range of brands and product prices.
According to a joint report by Siema and Frost & Sullivan, the total market size of the industry in 2018-19 was Rs 76,400 crore, with domestic manufacturing contributing Rs 32,200 crore. Air conditioners, refrigerators, washing machines, TVs and audio equipment are present in this report.
The air conditioning market size is expected to grow from 65 lakh to 165 lakh units in 2018-19 in 2024-25, although the refrigerator segment may grow production by 275 lakh units as compared to 145 lakh units in 2018-19. Similarly, the size of the TV market can grow to 284 lakh units in 2024-25 compared to 175 lakhs in 2018-19 and from 7 million units in 2018-19 in the washing machine segment to 126 lakh units in five years. is.
You can get a loan even if you Credit Score is low, Here's how