Consumer durable industries co… Free Essay Example

Consumer durable industries consist of consumer electronics and consumer appliance for domestic uses. This industry includes those products that do not have purchased frequently or that does not quickly wear out and that yields utility over time rather than completely consumed in one since it is manufactured for long time use. Consumer durable industries have been changing the last few years in India. This industry picks up after the commencement of economic liberation in India. The consumer durable industries are view as one of the most attractive sectors in the world.

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Moreover, these industries have been attracting huge foreign direct investment in this sector. Multinational players (MNC) who have stormed to market with internationally proven technologies, either on their own or in collaboration with established Indian players. After the open economic policy, Indian consumer durable market is coming competitions. The rural sector offers huge scope for consumer durables industry, as it makes up the largest share of the Indian population. India holds the youngest population among the major countries.

There are plenty of young people in India in different income categories. Nearly two-thirds of its population is under the age of 35, and nearly 50% are below 25 largest. The rural consumer durables market is growing faster than the urban market. The rural consumer durables market’s annual growth rate is now almost 30 percent. The urban market has now largely become a product replacement market. The market size (value) of the consumer durables industry has seen an exponential growth in the past few years, helped by several drivers such as greater disposable income, modern living standard, and an overall increase in the level of affluence of a significant section of the population.

Major domestic and foreign companies such as Videocon, Onida Godrej, BPL, Blue Star, Voltas, Whirlpool, LG, Sony, Daikin, Philips, etc., represent the consumer durables industry. Consumers are not

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