Will boost consumer appliances segment

01 Feb 2017

Kamal Nandi, business head and EVP, Godrej Appliances on the budget:

We believe the recently announced budget will have a positive effect on the consumer appliances segment through increased demand for such products and push towards domestic manufacturing.

After the recent demonetisation move and resultant fall in demand for consumer appliances there was an urgent need to spur demand and revive the segment. Lower tax rates for individuals within 2.5 – 5 lakh income segment and rebate for others should give a fillip to consumer spending and demand for consumer appliances.

Additionally, the government's move to tweak customs and central excise duty structure to promote its flagship 'Make in India' scheme will benefit domestic manufacturers like us, thereby reducing reliance on import of such products.

The increased focus on boosting agricultural income as well as a greater thrust on rural economy is welcome as it will help in rural penetration. Infrastructure focus will also help in furthering adoption of home appliances.