The Indian consumer durable market is one of the major industries of the country. In recent times, the
industry has undergone sea changes initiated by the liberalized economic policies.
Before the liberalization policies were introduced, Indian consumer durables industry was a closed one dominated solely by the domestic players. But post 1991 many foreign brands have shown interest in tapping the large market for consumer durables inIndia. As a result, both international and domestic brands are now competing side by side.
The consumer durables industry ofIndiahas recently witnessed an upsurge in demand due to the improved financial condition of the people. The market has recently experienced
around 30% growth rate in demand for electronics and home appliances. Some of the factors that are said to have promoted the growth of the industry are:
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Changed lifestyle
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Higher disposable income
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Changed taste
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Affordable prices
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Boom in housing and real estate industry
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Widened market- expansion of rural market
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Increased scope for advertising
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Easy financing- zero interest EMI
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Easy loans and credit card purchases
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Festival deals and discounts
Analysis of the Indian market for consumer durables
The market for consumer durables has expanded over the years. The household income of Indian houses has experienced significant improvement in the past decades and as a result the demand for durables has also risen. The current projection shows that household income of the population in top 20 cities ofIndiais expected to grow by 10% in the coming years. This is likely to increase the demand for consumer products as well.
The middle income group section (household with disposable income between 200, 000 to 1, 000,000) which currently constitutes 5% of the population is expected to become 41% by 2025. Rural poverty is expected to decline to 26% by 2025. All these factors are expected to contribute towards improving the market scenario for consumer durables.
Job scenario of consumer durable industry
The strong market trends are expected to promote demand for consumer durables as well. As a result, employment opportunities are likely to increase in the industry. Candidates interested in joining consumer durables market can find employment in the following profiles.
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Business development executives/managers
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Marketing and sales
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Product designers
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Distribution channel developer
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Production
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Operation
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Administration
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Accounts
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IT
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Law corporate law, patent law
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Advertising
Top consumer durables companies in India
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Panasonic A V C Networks India Company Ltd
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Panasonic Home Appliances India Company Ltd
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Polar Industries Ltd.
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Bajaj Electricals Limited
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Balkrishna Industries Ltd.
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BombayBurmah Trdg. Corpn. Ltd.
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Bose
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BPL Ltd.
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Forbes & Company Ltd.
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Haier Appliances (India) Private Limited
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Havells India Ltd
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Hawkins Cookers Ltd
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IFB Industries Ltd
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J C T Electronics Limited
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Jaipan Industries Ltd
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Kanchan International Ltd
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Khaitan Electricals Ltd.
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Videocon Industries Ltd
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Voltas Limited
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Whirlpool of India Ltd.
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Polar Industries Ltd.
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Sharp India Ltd.
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LG ElectronicsIndia
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NokiaIndia
