White Goods

AC, LED companies commit fresh investment worth Rs 3,516 crore under white goods PLI scheme

Centre reviewed the applications and selected 18 new companies, which include makers of Air Conditioners and LED Lights, and in addition to that, six existing beneficiaries have been upgraded to higher investment categories.

Govt targets domestic value addition in ACs to rise to 75-80% by FY29

The third round of the scheme has received commitments worth Rs 4,121 crore

Consumer durable industry on growth path, should aim to boost exports: DPIIT Secy

So far, 66 applicants with committed investment of Rs 6,962 crore have been selected as beneficiaries under the PLI scheme

Warranty period should start from date of installation and not purchase date: Govt asks white goods makers

Consumer Affairs Secretary Rohit Kumar Singh has written a letter in this regard to six industry bodies including CII, FICCI, Assocham and PHDCCI as well as many manufacturers –Samsung, LG, Panasonic, Blue Star, kent, Whirlpool, Voltas, Bosch, Havells, Philips, Toshiba, Daikin, Sony, Hitachi, IFB, Godrej, Haier, Eureka Forbes, and Lloyd.

White goods and durable companies to see better margins in April-June despite weak sales: ICICI Securities

Profitability of white goods and durable companies could improve because all major raw materials are in the deflation zone now, said ICICI Securities.

Chinese home appliance maker Midea Group sees Electrolux as a potential buyout target

Midea made a preliminary approach in recent weeks to the white-goods manufacturer about a possible transaction

15 more firms selected under PLI scheme for white goods

In November last year, 42 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 4,614 crore were selected.

19 firms file applications under PLI scheme for white goods in 2nd round

The government in March reopened the application window for its Rs 6,238-crore production-linked incentive (PLI) scheme for air-conditioners (ACs) and LED lights with an aim to accommodate more players as several firms have expressed interest in the initiative.

Decoding PLI: Big opportunity for local manufacturing of white goods

Ind-Ra sees a substantial jump in the indigenisation of AC and LED component manufacturing as a result of the PLI scheme, provided the challenges of scale and technology are addressed

Festive sale: Appliance makers woo customers with extended warranties, cashbacks and easy finance

White goods firms are hoping to improve revenue that was hit in the summer months due to the second wave of COVID-19. Onam kicks off the festive season sales in India. Sales during the 10-day festival offers a glimpse of how the rest of the season could pan out for consumer durables firms.

WFH impact? Godrej Appliances enters dishwashers category

The new Godrej Eon Dishwashers have a starting price of Rs 37,900 plus taxes. Godrej Appliances is eyeing 15 percent market share in this category by FY22 end.

PLI Scheme for large scale electronics manufacturing extended by one year: FM Nirmala Sitharaman

This scheme was to begin in 2020-21 and continue for a period of five years. Finance Minister Nirmala Sitharaman said that this scheme will now continue till 2025-26.

Tata Group's Croma eyes expansion of physical presence, to open 75 stores in FY22

As of June 16, Croma had 154 stores out of 193 stores that were open atleast a few days in a week. In FY20, their revenue stood at Rs 5,173 crore, as per ROC filings. Ghosal said that the revenue grew by 4 percent YoY in FY21.

COVID-19 demand: US-based Molekule enters India market with its range of air purifiers

The Air Mini is priced at a discounted rate of Rs 31,999 on Amazon while the original retail price is Rs 37,999. The Air Mini+ is available at a discounted rate of Rs 36,999 on Amazon while the original retail price is Rs 45,999.

PLI Scheme: Ball in electronics ministry's court as appliance makers seek revision in base year

Appliance makers have cited COVID-19 led lockdown and restrictions to seek a change in the base year over which the incremental sales will be calculated

Price rise pinch: Appliance set to be 10-15% costlier as commodity rates go up

Appliance makers had already raised prices in February due to a shortage of key components and an increase in metal prices globally

TV prices set to rise again as govt considering customs duty hike on open-cell panels

The government wants to incentivise local manufacturing by increasing customs duty. The plan is to increase the duty by up to 12 percent in three years from the current 5 percent. In Sept 2019, the CBIC had said there will be no hike in cutoms duty if manufacturers develop domestic capacity

Semiconductor shortage may choke laptop supply ahead of new academic session

Laptops could be in short supply in India because of the scarcity of semiconductor chips made in China. The shortage comes during the peak-demand period of March-June, which accounts for 40 percent of sales in India

Maharashtra COVID-19 restrictions: White goods output to halt in peak season; confusion over exports

New restrictions in the state bar all non-essential manufacturing, which means makers of white goods cannot supply fans, air conditioners and refrigerators in the peak summer season

White-goods makers seek cheap land parcels to expand manufacturing under PLI scheme

Appliance makers want real estate to be offered at subsidised rates so that they can set up new manufacturing facilities under the production-linked incentive scheme. The India business head of a global appliance maker told Moneycontrol that about 70 percent of the costs involved in setting up a manufacturing unit pertain to acquiring land

Thomson enters air cooler category in India, plans to capture 15 percent market in 2 years