Consumer Durables: Industry Report, March 2013

Consumer Durables
MARCH
2013
Click to edit Master subtitle style
For updated information, please visit www.ibef.org
3/21/13
Consumer Durables
Contents
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MARCH
2013
Advantage India Market overview and trends Growth drivers Success stories: Videocon, LG, Samsung Useful information
Click to editOpportunities Master subtitle style

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Consumer Durables
Advantage India
Growing demand
MARCH
2013
Demand growth is likely to accelerate with rising disposable incomes and easy access to credit Increasing electrification of rural areas and wide usability of online sales would also aid growth in demand
Opportunitie Rurals and semi-urban
FY15E
Market size: USD12.5 billion
markets currently contribute 35 per cent to total sales; their combined size is set to post a CAGR of 25 per cent over 201015
Advanta ge Increasing investments Click to edit Master subtitle style India 100 per cent FDI allowed in the Sector has attracted
significant investments over the years (even during the global downturn of 2009-10) USD1 billion worth of investments in production, distribution and R&D in the next few years
Huge untapped rural market; currently there is only 2 per cent penetration for refrigerators and 0.5 per cent for washing machines Policy support
FY12
Market size: USD7.3 billion
electronics hardware manufacturing sector under the automatic route; Approval of 51 per cent in multibrand would further fuel the growth in this sector Duty relaxation, schemes such as EPCG, EHTP to provide tax sops
Source: Corporate Catalyst India, Moneycontrol, GEPL capital Notes: FDI - Foreign direct investment, FY - Indian financial year (April - May), FY15E - estimate for FY15 (Corporate Catalyst India), USD - US Dollar, CAGR - Compound Annual Growth Rate, EPCG - Export Promotion Capital Goods Scheme, EHTP - Electronic Hardware Technology Park 3
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ADVANTAGE INDIA
Consumer Durables
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2013

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Consumer Durables
The consumer durables market is split into two key segments
MARCH
2013
Consumer durables Consumer electronics (brown goods) Televisions Audio and video systems Consumer appliances (white goods) Air conditione rs Refrigerat ors Sewing machines Cleaning equipment Other domestic appliances
Washing CD and Personal Click to edit Master subtitle style DVD computers machines players Laptops Digital cameras Camcorder s Electric fans Microwave ovens
Electronic accessorie s
Source: Electronic Industries Association of India, Corporate Catalyst India, Aranca Research
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5 OVERVIEW AND TRENDS MARKET
Consumer Durables
Evolution of the Indian consumer durables sector
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2013
Late 2000s Early 2000s Consolidati on
Mid and late 1990s Liberalisatio n
Growth

1980s and early 1990s Pre -liberalisati on Closed market
Increased product availability, increased media penetration and advertising For updated information, please visit www.ibef.org

Increasing availability and affordability of consumer finance Liberalisation of provides impetus to markets growth Influx of global players Low penetration of such as LG and high-end products Samsung such as air Shift in focus from conditioners (<1 per promotion to product cent) innovation
Companies look to consolidate market share Indian companies such as Videocon gaining global identity Increasing penetration of high-end products such as air conditioners (>3 percent) Introduction of new aspirational products such as High Definition TVs (HDTVs)
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Source: Financial Express, Appliance Magazine, Aranca Research
Consumer Durables
Consumer durables revenues have been growing at a healthy pace
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2013
The consumer durables sector raked revenues worth USD7.3 billion in FY12
in
12 10 8 6
Size of the consumer durables market (USD billion)
Growth has been healthy over the years; the sector recorded a CAGR of 10.8 per cent over FY03-12. Estimates provided by Corporate Catalyst India indicate that the consumer durables market is expected to double at 14.8 per cent CAGR to USD12.5 billion FY15 from USD6.3 billion in Clickinto edit Master subtitle FY10. Further, demand from rural and semiurban areas is expected to expand at a CAGR of 25 per cent to USD6.4 billion in FY15 from USD2.1 billion in FY10
Notes: FY - Indian Financial Year (April - March), USD - US Dollar, CAGR - Compound Annual Growth Rate
style4
2 0 Source: Electronic Industries Association of India, Aranca Research
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Consumer Durables
Urban areas account for about twothirds of total sales in the sector
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2013
Urban markets account for the major share (65 per cent) of total revenues in the consumer durables sector in India Demand in urban markets is likely to increase for non-essential products such as LED TVs, laptops, split ACs and, beauty and wellness products In rural markets, durables like refrigerators as well as consumer electronic goods are subtitle likely to Click to edit Master witness growing demand in the coming years as the government plans to invest significantly in rural electrification
Shares in the consumer durables market in India (FY11)
style
Source: Electronic Industries Association of India, Corporate Catalyst India, Aranca Research
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Consumer Durables
Consumer electronics - key products
Colour TVs (CTVs)

MARCH
2013
CTVs are the largest contributors to this segment Market size was estimated at 23.0 million units in 2012 Introduction of HDTVs is set to drive demand growth from affluent consumers LCD sales in India is expected to touch 9.9 million units in 2012 The price decline due to relatively low import duty on LCD panels, higher penetration levels, and the introduction of small entry-size models are key growth drivers in the segment
Liquid crystal displays (LCDs)
Click to edit Digital video discs (DVDs)
Master subtitle style The Indian DVD market accounted for 4.0 million units sold in 2011
The organised market has a share of 80 per cent in the total market
Direct-to-home (DTH)
The set-top box (STB) market is growing rapidly, due to the expansion of DTH and introduction of the conditional access system (CAS) in metros The DTH market was worth USD2.2 billion in FY12; the subscriber base is expected to grow from 23 million to 42 million during 2010-12, thereby making India the worlds largest DTH market
Source: Electronic Industries Association of India, Corporate Catalyst India, India Infoline, TV Veopar Journal 2011, Business Line, Aranca Research, BMI Research, IHS iSuppli Research.
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Consumer Durables
Consumer appliances - key products
Refrigerators

MARCH
2013
Air conditioners (ACs)
Washing appliances
Refrigerator sales stood at 12.0 million units in 2011 This segment makes up 18.0 per cent of the consumer appliances market The market share of direct cool and frost free segment is 76.3 per cent and 23.7 per cent respectively Key growth drivers are lower prices and rising demand for frost-free refrigerators The Indian ACs market accounted for sales of 4.4 million unit in 2011 ACs are perceived as high-end products; current penetration stands at 3.0 per cent The segment had a 13.0 per cent share (2010) in the consumer appliances market. High income growth and rising demand for split ACs are the key growth drivers Washing machines are the second largest contributor to the consumer appliances market (after refrigerators); in 2011 total sales was 6.0 million units Fully automatic washing machines are garnering an increasing share of the market due to reduction in prices and higher disposable incomes
Electric fans

Production of fans in 2011 stood at 36.2 million units This is a highly penetrated market Electric fans are an essential utility for more than six months of the Source : Electronic Industries Association of India, Corporate year in most parts of the country
Catalyst India, TV Veopar Journal 2011, Aranca Research
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Consumer Durables
Key players in the consumer durables sector (1/2)
Company
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2013
Product category
ACs, refrigerators and specialty cooling products
ACs and cooling equipment
Refrigerators, ACs, washing machines, microwave ovens, DVD players, digitalimaging products and audio-visual products Click to edit Master subtitle style ACs and refrigerators
TVs, audio-visual solutions, computers, mobile phones, refrigerators, washing machines, microwave ovens, vacuum cleaners and ACs LCDs, washing machines, DVD players, ACs, microwave ovens, mobile phones, projectors and display products
*This list is indicative
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Consumer Durables
Key players in the consumer durables sector (2/2)
Company
MARCH
2013
Product category
TVs, home theatre systems, DVD players, audio products, personal care products, household products, computers and phones TVs, home theatre systems, DVD players, mobile phones, digital cameras and camcorders, refrigerators, ACs, washing machines, microwave ovens and computers TVs, projectors, DVD players, audio systems, home theatre systems, digital media TVs, DVD players, microwave ovens, refrigerators, washing machines, ACs and power backup solutions Refrigerators, washing machines, microwave ovens, water purifiers and power backup solutions
*This list is indicative
Click to edit Master subtitle style video-gaming products and recording cameras and camcorders, computers,
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Consumer Durables
Notable trends in the consumer durables sector
Increasing presence of organised retail

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2013
The Indian retail market is currently worth USD396 billion and is likely to expand at a CAGR of 12.0 per cent to USD574 billion by 2015 The penetration of modern retail is 12.0 per cent in consumer durables segment
Expansion into new segments
Companies are expanding their product portfolio to include products like high -definition televisions (HDTVs), tablets and smart phones, etc, demand for which are rising with consumers income, easy availability of credit and wide use of online sales
Increased Click to affordability of products
Advancement in technology and higher competition are driving price edit Master subtitle style reductions across various consumer durable product segments such as
computers, mobile phones, refrigerators and TVs
Focus on energyefficient and environment friendly products
Leading companies have introduced star-rated, energy-efficient ACs and refrigerators Companies also plan to increase the use of environment-friendly components and reduce e-waste by promoting product recycling
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Consumer Durables
Strong demand and policy support driving investments
Growing demand Growing demand
MARCH
2013
Strong government Policy support support
Increasing investments
Higher real disposable incomes
Inviting
Setting up of EHTPs

Easy consumer credit Increasing liberalisation, Large domestic tariff market relaxation Policy sops, favourable FDI climate
Resulting in
Expanding production and distribution facilities in India Increased R&D activity
Growing consumer base
Providing support to global projects from India
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Notes: EHTP - Electronic Hardware Technology Park, FDI Foreign Direct Investment, R&D - Research and Development
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GROWTH DRIVERS
Consumer Durables
Income growth will the key driver of demand for consumer durables
MARCH
2013
Demand for consumer durables in India has been growing on the back of rising incomes; this trend is set to continue even as other factors like rising rural incomes, increasing urbanisation, a growing middle class, and changing lifestyles changes aid demand growth in the sector Consequently, industry analysts expect the sector to post a CAGR of 15.0 per cent over 2010-15 Significant increase in discretionary income and Click to edit Master subtitle easy financing schemes have led to shortened product replacement cycles and evolving life styles where consumer durables, such as ACs and LCD TVs, are perceived as utility items rather than luxury possessions Growth in demand from rural and semi-urban market to outpace demand from urban market for consumer goods Per capita income is expected to expand at a CAGR of 7.9 per cent for the period 2010-15
Rising per-capita income in India

12 10 8 12 10 8 6 4 2 0 Source: IMF, Aranca Research *IMF estimates
6 4
style 2
0
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GROWTH DRIVERS
Consumer Durables
Policy support aiding growth in the sector
Customs duty relaxation

MARCH
2013
IT/Electronics sector the first in India to be allowed complete customs exemption on certain items used for manufacturing electronic goods The peak rate of basic customs duty is 10 per cent 217 tariff lines (under the ITA-1) are exempted from basic custom duty
Reduced central excise
The mean rate of excise duty is 12.0 per cent Excise duty is being reduced to 6.0 per cent on LED lamps and LEDs required for manufacture of such lamps
Encouragement to Click FDI to edit
Master subtitle style
100 per cent FDI is permitted in electronics hardware-manufacturing under the automatic route FDI into single brand retail has been increased from 51.0 per cent to 100 per cent; the government is planning to hike FDI limit in multibrand retail to 51.0 per cent EPCG allows import of capital goods on paying 3.0 per cent customs duty EHTP provides benefits, such as duty waivers and tax incentives, to companies which replace certain imports with local manufacturing
EPCG, EHTP schemes
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Source: Department of Commerce, Government of India; Corporate Catalyst India, Aranca Research Notes: FDI - Foreign Direct Investment, EPCG - Export Promotion Capital Goods scheme, EHTP - Electronic Hardware Technology Park Scheme, ITA-1 - Information Technology Agreement 17
GROWTH DRIVERS
Consumer Durables
Recent investments by key players
MARCH
2013
2010
2011
2012
May 10: LG Feb 11: May 05: LG Electronics earmarks Whirlpool launches latest series around USD85 announces of Cinema 3D Smart million for USD25 million TVs with marketing upgrading Indian investment in spending of USD20.8 plants FY11 million Sep to 10: edit Haier Master subtitle Click style Jan 17: Samsung to Apr 11: Hitachi invests to open allocates raise its investments 75 new retail USD400 million to USD41.4 billion for stores (called to set up R&D consolidating its Experience centre in position in mobile Centres) in India Bangalore chips and flat screens in 2010 May 11: Videocon announces Nov 10: Panasonic plans to invest around Samsung establishes its USD12.5 million in inaugurates first R&D centre R&D in FY13 USD75 million in India in Panasonic plans to manufacturing Gurgaon invest USD208 million Source: Company websites, The Hindu, Economic Times, Business Standard, Aranca Research facility in by -2014 in setting up Note: R&D Research and Development Chennai manufacturing units and an advanced R&D 18 centre GROWTH DRIVERS For 3/21/13 updated information, please visit www.ibef.org
Consumer Durables
Key manufacturing plants of consumer durables across India
NORTH: Delhi and Uttarkhand are the key consumer durables manufacturing hubs in North India
MARCH
2013
EAST: West Bengal is major hub for Videocon and Philips
WEST: Maharashtra and Gujarat host units for LG, Videocon and Samsung
Major Consumer durables Manufacturing Plant
SOUTH: Tamil Nadu hosts manufacturing facilities for a number of leading firms Source: Aranca Research Note: All figures as of 2011-12
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GROWTH DRIVERS
Consumer Durables
Contents
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2013
Advantage India Market overview and trends Growth drivers Success stories: Videocon, LG, Samsung Opportunities Useful information

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Consumer Durables
MARCH
2013
Videocon: The Indian behemoth (1/2)
Videocon is a major player in the consumer durables industry in India The company leads the market in colour TVs, refrigerators, washing machines, and microwave ovens
Market share in consumer durables (FY10)
Source: Company website, ISM Capital, Aranca Research
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21 SUCCESS STORIES: VIDEOCON, LG, SAMSUNG
Consumer Durables
MARCH
2013
Videocon: The Indian behemoth (2/2)
One of the largest colour picture tube (CPT) manufacturers globally and is currently in second position (after LG) in the colour TV segment During 2007-11, Videocons revenues increased at a CAGR of 11.1 per cent In the first nine months of this year, revenue and net profit stood at USD1,884 million and USD24 million respectively Click to edit Master subtitle
Note: CAGR - Compound Annual Growth Rate
12 10 8 6
Trends in top line and bottom line growth (USD million)
12 10 8 6 4 2 0
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2 0
Source: Company website, ISM Capital, Aranca Research Note: 2010* - Data for 15 Months
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Consumer Durables
LG and Samsung: Compelling success stories (1/4)
MARCH
2013
LG and Samsung together account for over 40 per cent of the consumer durables market in India Samsung entered India in 1995 whereas LG began operations in 1997 Initially, LG took the lead with Samsung trying to catch up; in 2007 LGs revenues (USD2.4 billion) were almost double of Samsungs (USD1.3 billion) Click to edit Master subtitle However, high growth in mobile phone sales saw Samsung equal LGs revenues by 2010 (USD3.6 billion) and by 2011 it outpaced LG
Revenues in USD billion
style
Source: Company websites, Aranca Research
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Consumer Durables
MARCH
2013
Before 2005, LG's entry strategy was to establish its presence across the country, offering a range of affordable but feature-rich products Samsung focused on creating a premium brand image by emphasising on the design and technology aspects of its higher-priced products and targeting a more affluent customer base After 2005, the two have expanded the subtitle scope of Click to edit Master their target markets and offer both functional and high-end products Product innovation, heavy investment in R&D, and customer preferences have been the key factors behind the success of the two Korean giants
Expanding target markets Premium Segment
```
style
Mass Segment Before 2005 LG After 2005 Samsung
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Consumer Durables
MARCH
2013
Between the two, Samsung leads the mobile handset and premium flat panel TV market LG has a market dominance in other consumer durables, including refrigerators, air conditioners, washing machines, and microwave ovens
9.6 8.8 8 7.2 6.4 5.6 4.8 4 3.2 2.4 1.6 0.8 0
Market share of players in the consumer durables market (2011)
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Consumer Durables
MARCH
2013
LG expects Indias share in its global revenues to double to 12.0 per cent in FY15 from 6.0 per cent in FY10; Samsung anticipates a similar increase from 2.5 per cent to 5.0 per cent The Korean giants are also looking at India as a manufacturing base for other markets and are ramping up investments accordingly LG plans to increase its penetration level in the Indian rural market 15.0Master per cent subtitle by 2015 Click to to edit from 5.0 per cent in 2011; during the same period it wants to increase penetration in the urban market to 40.0 per cent from 34.0 per cent
Indias share in each companys global

12 10 8 6 4 style 2 0 Source: Company websites, Aranca Research
revenues
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Consumer Durables
Opportunities in rural areas
MARCH
2013
Consumer durables market expected to expand at a CAGR of 14.8 per cent to USD12.5 billion in FY15 (from USD7.3 billion in FY11) Demand from rural and semi-urban areas is expected to expand at a CAGR of 25 per cent to USD6.4 billion in FY15 from USD2.1 billion in FY10 By FY15, rural and semi-urban markets are likely to contribute a majority of consumer durables sales
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Source: Corporate Catalyst India, Aranca Research
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OPPORTUNITIES
Consumer Durables
Consumer durables firms to augment investments in coming years (1/2)
MARCH
2013
Market leader LG plans to invest USD375 million in India for enhancing its manufacturing capacities and marketing activities. It also plans to launch 12 smart phones in India by 2012 Japans Panasonic plans to invest USD208 million by 2014 in setting up manufacturing units and an advanced R&D centre Videocon plans to invest about USD12.5 million in R&D in 2012 Samsung plans to invest USD94 million to expand capacity by 2015
Click to edit subtitle style Nokia intends to invest up toMaster USD52.1 million to revamp operations in India by 2014
Carrier plans to invest USD104 million over the next five years to expand production capacity at its newly commissioned plant in Gurgaon Cumulative FDI in electronics sector for March 2000 - August 2012 stood at USD1,167.8 million
Note: USD - US Dollar, LCD - Liquid Crystal Display
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OPPORTUNITIES
Consumer Durables
Consumer durables firms to augment investments in coming years (2/2)
Upcoming investments by major players
MARCH
2013
LCD TV shipments
12 10 8 million units 6 4 2
10 12 USD million
Source: Business Standard, company websites, Aranca Research
Source: TV Veopar Journal 2011, estimates by IHS iSuppli Market Intelligence, Aranca Research
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OPPORTUNITIES
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Consumer Durables
Appendix: Benefits to consumer durables and wider retail sector from FDI policy
MARCH
2013
Benefits of FDI in Indian retail
Increase in employment
Infrastructure Investment
Removing middlemen
Benefiting Indian manufacturers

Sector Entry route FDI limit
Whole sale cash and carry trading Single brand product retailing Multi brand, front end retail
Automatic Foreign Investment and Promotion Board Currently not allowed
100% 100% Currently not allowed 32

USEFUL INFORMATION
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Consumer Durables
Appendix: Two key retail related FDI policies that will impact consumer durables

MARCH
2013
51% FDI in multi brand retail

Status: Approved
Click to edit

100% FDI in single brand retail

Status: Policy passed
Minimum investment cap is USD100 million 30 per cent procurement of manufactured or processed products must be from SMEs Minimum 50 per cent of total FDI must be invested in back-end infrastructure (logistics, cold storage, soil testing labs, seed farming and agro-processing units) Removes the middlemen and provides a better price to farmers Development in the retail supply chain system 50 per cent of the jobs in the retail outlet could be reserved for rural youth and a certain amount of farm produce could be required to be procured from poor farmers To ensure the Public Distribution System (PDS) and Food Security System (FSS), government reserves the right to procure a certain amount of food Master subtitle style grains Multi brand retail would keep food and commodity prices under control Will cut agricultural waste as mega retailers would develop backend infrastructure Consumers receive higher quality products at lower prices and better Products to will be sold under the same brand internationally service Sale of multi brand goods is not allowed, even if produced by the same manufacturer For FDI above 51 per cent, 30 per cent sourcing must be from SMEs Consumerism of the retail market Any additional product categories to be sold under single brand retail must first receive additional government approval 33
USEFUL INFORMATION
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Consumer Durables
Industry associations (1/2)
MARCH
2013
Consumer Guidance Society of India Block 'J' Mahapalika Marg, Mumbai - 400 001 Tele fax: 91-22 22621612/2265 9715 E-mail: cgsibom@mtnl.net.in Website: www.cgsiindia.org Retailers Association of India 111/112, Ascot Centre, Next to Hotel Le Royal Meridien, Sahar Road, Sahar, Andheri (E), Mumbai - 400099 Tel: 91-22-28269527-28 Click to edit Master subtitle style Fax: 91-22-28269536 Website: www.rai.net.in Consumers Association of India 3/242, Rajendra Gardens, Vettuvankeni, Chennai, Tamil Nadu - 600 041 Tel: 91-44-2449 4576/4578 Fax: 91-44-2449 4577 E-mail: consumersassnofindia@vsnl.net
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USEFUL INFORMATION
Consumer Durables
Industry associations (2/2)
MARCH
2013
Consumer Electronics and Appliances Association 5th Floor, PHD House 4/2, Siri Institutional Area, August Kranti Marg New Delhi - 10 016 Telefax: 91-11- 46070335, 46070336 e-mail: ceama@airtelmail.in Website: www.ceama.in
Manufacturers
ELCINA Electronic Industries Association of India Click to edit Master subtitle style (Formerly Electronic Component Industries Association) ELCINA House, 422 Okhla Industrial Estate, Phase III New Delhi -110020 Tel: 91-11-26924597, 26928053 Fax: 91-11-26923440 e-mail: elcina@vsnl.com Website: www.elcina.com
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USEFUL INFORMATION
Consumer Durables
Glossary

MARCH
2013
CAGR: Compound Annual Growth Rate Capex: Capital Expenditure CENVAT: Central Value Added Tax EHTP: Electronic Hardware Technology Park EPCG: Export Promotion Capital Goods Scheme FDI: Foreign Direct Investment FY: Indian financial year (April to March)
So FY10 implies April 2009 to March 2010
LCD: Liquid Crystal Display R&D: Research and Development USD: US Dollar
Conversion rate used: USD1= INR 48
Wherever applicable, numbers have been rounded off to the nearest whole number
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USEFUL INFORMATION
Consumer Durables
Disclaimer
MARCH
2013
India Brand Equity Foundation (IBEF) engaged Aranca to prepare this presentation and the same has been prepared by Aranca in consultation with IBEF. All rights reserved. All copyright in this presentation and related works is solely and exclusively owned by IBEF. The same may not be reproduced, wholly or in part in any material form (including photocopying or storing it in any medium by electronic means and whether or not transiently or incidentally to some other use of this presentation), modified or in any manner communicated to any third party except with the written approval of IBEF. This presentation is for information purposes only. While due care has been taken during the compilation of this
presentation to ensure that the information is accurate to the best of Aranca and IBEFs knowledge and belief, the content is not to be construed in any manner whatsoever as a substitute for professional advice. Aranca and IBEF neither recommend nor endorse any specific products or services that may have been mentioned in this presentation and nor do they assume any liability or responsibility for the outcome of decisions taken as a result of any reliance placed on this presentation. Neither Aranca nor IBEF shall be liable for any direct or indirect damages that may arise due to any act or omission on the part of the user due to any reliance placed or guidance taken from any portion of this presentation.
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Consumer Durables

Click to edit Master subtitle style

For updated information, please visit www.ibef.org

Click to editOpportunities Master subtitle style

For updated information, please visit www.ibef.org

Opportunitie Rurals and semi-urban

For updated information, please visit www.ibef.org

Click to editOpportunities Master subtitle style

For updated information, please visit www.ibef.org

For updated information, please visit www.ibef.org

5 OVERVIEW AND TRENDS MARKET

Late 2000s Early 2000s Consolidati on

Mid and late 1990s Liberalisatio n

Click to edit Master subtitle style

Source: Financial Express, Appliance Magazine, Aranca Research

6 OVERVIEW AND TRENDS MARKET

Size of the consumer durables market (USD billion)

For updated information, please visit www.ibef.org

7 OVERVIEW AND TRENDS MARKET

Shares in the consumer durables market in India (FY11)

For updated information, please visit www.ibef.org

8 OVERVIEW AND TRENDS MARKET

Liquid crystal displays (LCDs)

Click to edit Digital video discs (DVDs)

For updated information, please visit www.ibef.org

9 OVERVIEW AND TRENDS MARKET

Air conditioners (ACs)

Click to edit Master subtitle style

For updated information, please visit www.ibef.org

10 OVERVIEW AND TRENDS MARKET

ACs, refrigerators and specialty cooling products

ACs and cooling equipment

For updated information, please visit www.ibef.org

11 OVERVIEW AND TRENDS MARKET

For updated information, please visit www.ibef.org

12 OVERVIEW AND TRENDS MARKET

Expansion into new segments

Increased Click to affordability of products

computers, mobile phones, refrigerators and TVs

Focus on energyefficient and environment friendly products

For updated information, please visit www.ibef.org

13 OVERVIEW AND TRENDS MARKET

Click to editOpportunities Master subtitle style

For updated information, please visit www.ibef.org

Strong government Policy support support

Higher real disposable incomes

Click to edit Master subtitle style

Expanding production and distribution facilities in India Increased R&D activity

Growing consumer base

Providing support to global projects from India

For updated information, please visit www.ibef.org

Rising per-capita income in India

For updated information, please visit www.ibef.org

Reduced central excise

Encouragement to Click FDI to edit

Master subtitle style

EPCG, EHTP schemes

For updated information, please visit www.ibef.org

EAST: West Bengal is major hub for Videocon and Philips

Major Consumer durables Manufacturing Plant

For updated information, please visit www.ibef.org

Click to edit Master subtitle style

For updated information, please visit www.ibef.org