Consumer electronics, home appliances to see 3-5 pc price hike
Consumer electronics, home appliances to see 3-5 pc  price hike

According to industry players, prices of home appliances and consumer electronics, such as televisions, washing machines, and refrigerators, are projected to rise by 3 to 5% from the end of May or the first week of June as manufacturers pass on the impact of higher input costs to purchasers.

Furthermore, the sinking Indian rupee against the US dollar has added to manufacturers' troubles, as imported components have become more expensive, despite the industry's reliance on imports for crucial components.
To add to the difficulties, there has been a shortage of parts caused by the stacking up of containers at Shanghai port as a result of the city's severe lockdown following the increase in COVID-19 cases.  This has put a strain on manufacturers' inventories, and numerous top-line products with low local value addition and a high reliance on imports are no longer available.

The Consumer Electronics and Appliances Manufacturers Association (CEAMA) attributed that the fall of the Indian rupee versus the dollar causing significant challenges for the industry. The price increase will affect most product categories, including washing machines, air conditioners, and refrigerators, as well as other appliances. Some air conditioner manufacturers raised prices in May, but others are likely to do so by the end of the month or in June.
"The industry will pay for imported goods as they arrive," CEAMA said, adding that "if the dollar remains at Rs 77.40 versus the Indian rupee, manufacturers would have to make price adjustments."

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