NEW DELHI: Consumer appliance makers have sought a waiver of import duty for inputs used to make components locally and a stimulus package that will lead to more money in the hands of people in the upcoming Budget to spur consumption.
“As far as electrical appliances industry is concerned, the need of the hour is to revive consumer demand. We expect the government to reduce personal income tax as this will directly put more disposable income in the hands of consumers providing a fillip to the demand,” said Atul Jain, chairman, Indian Fan Manufacturers’ Association (IMFA).
Neeraj Bahl, MD and CEO, BSH home appliances, India said, “We are hopeful that the Budget will focus on regaining consumer confidence by way of personal tax cut to boost demand. The appliances industry saw a flat growth in 2019, and we look forward to constructive policies to drive growth in the sector.”
Acknowledging that the consumer electronics and appliance industry is also facing multi-pronged challenges, Kamal Nandi, president of industry body Consumer Electronics and Appliances Manufacturers Association said, “Budget 2020 should provide incentives for manufacturers to produce energy-efficient products including refrigerators and ACs to increase adoption of sustainable appliances.”
Nandi said the government should consider initiating measures to waive duty on raw materials imported to make components at a time when the industry is seeing stagnant growth, global economic challenges etc.