Revolutionizing India's Consumer Durables: A Surge in Smart and Premium Products

The Indian electrical consumer durables industry is on the brink of a substantial transformation, fueled by an increasing preference for premium products, a shift towards organized markets, and broader category offerings, according to Crompton Greaves Consumer Electricals Ltd's latest annual report.

As disposable incomes rise, a larger portion of the population can afford consumer durables. This expanding base translates to higher demand across various product categories, presenting significant opportunities for the market. The Indian middle class is expected to constitute 47% of the population by 2030-31, creating a robust demand engine.

Consumers prioritizing health and well-being have opened avenues for companies to design smart, feature-rich products. The trend of smart homes with IoT and AI-enabled devices is driving demand, creating lucrative prospects for innovation. Supportive government policies further bolster the sector's progress. CGCEL is capitalizing on these trends through its consumer-focused strategy, Crompton 2.0, to boost revenue and profits.

(With inputs from agencies.)