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TV refrigerator consumer durables up 5 per cent as more expensive imports amid falling rupee add to input costs – Business News India

The decline of the rupee to a record low against the dollar now could have an impact on the pockets of the general public. According to industry experts, by the end of this month or from June next month, the prices of household appliances and consumer electronics such as TV, washing machine and refrigerator, i.e. refrigerator, may rise by 3 to 5 percent.

It will affect customers’ pockets
According to industry sources, there has been a massive increase in manufacturing costs due to weak rupee and rising inflation. To compensate for this, companies are forced to pass this on to customers. According to the sources, the depreciation of the Indian rupee against the US dollar has increased manufacturing problems as imported components are becoming more expensive and the industry is highly dependent on imports for critical parts.

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This is the reason too
Apart from this, due to the strict lockdown imposed due to the increase in cases of Kovid-19 in China, many ships are standing in the port of Shanghai. In such a situation, the problem of shortages of parts increased and the pressure on the manufacturers’ inventory increased. Many of these products that depend heavily on imports are missing from the market.
The Consumer Electronics and Equipment Manufacturers Association (CIMA) said the rupee’s depreciation against the US dollar has added to the industry’s problems.

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What do market experts say?
Eric Briganza, President of Siema, said, “With raw material prices already high and the US dollar strengthening now, the rupee is weakening, so all manufacturers are expecting a small profit. From June onwards, prices will rise by three to five percent. Some manufacturers of air conditioners will raise prices in the month of May itself, and others will raise prices by the end of this month or in June.

Panasonic India said
Cost pressure continues to rise, said Manish Sharma, CEO of Panasonic India and South Asia. However, the company is trying to have the least impact on consumers. The last time the prices were raised was in January 2022. However, due to the rise in commodity prices, the prices of various products can be increased by four to five percent.

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The biggest impact on TV air conditioners
Satish NS, Head of Haier Appliances India, said that due to the shutdown in Shanghai, the supply of parts has been disrupted, and the impact of this will start to be felt from June. “Air conditioners and flat-panel televisions will have a large impact, while refrigerators will have a smaller impact,” he said.

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