New Delhi, Dec 23 (UNI) White goods like air conditioners (ACs), fridge, washing machines and microwave ovens will drive the growth of consumer durable sector to 12 per cent in 2007-08.
Despite the constraints of an inverted customs duty structure and high levels of excise duties on white goods and consumer electronics industry, the consumer durable sector is set to surpass the overall growth of 11.5 per cent achieved in 2006-07 to close the current financial year 0.5 per cent higher at 12 per cent, according to a survey by Ficci.
The survey further says the fast growing segments which have led growth of consumer durables industry and are expected to drive sales are high-end products like flat panel TVs, LCD TVs, plasma TVs, Slim CRT TVs, frost-free refrigerators, fully automatic washing machines, split air-conditioners, DVD players, Micro Wave Oven and many more.
The sectors which are projected to achieve 'excellent' growth rates of more than 20 per cent in terms of quantity produced are air conditioners (25 per cent), split air conditioners (60 per cent), frost free refrigerators (54 per cent), washing machines (20 per cent), fully automatic washing machines (35 per cent), micro wave oven (35 per cent), micro wave oven - convection (50 per cent), micro wave oven - grill (28 per cent), micro wave oven-solo (20 per cent), high-end flat panelTV (100 per cent), LCD TV (110 per cent), plasma TV (100 per cent) VCD/MP3 (20 per cent), DVDs (25 per cent), DVDs-organised (25 per cent).
Non-IT consumer durable goods was estimated at Rs 35,000 crore in 2006-07 with 11.5 per cent growth against 8.5 per cent growth last year.